Jerusalem – Just hours before the Jewish New Year rolled in Wednesday, Prime Minister Binyamin Netanyahu and Finance Minister Yair Lapid agreed on the outline for the 2015 budget.
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As previously reported, the budget will increase the deficit to 3.4 percent of GDP from the originally planned 2.5%, add NIS 6 billion to the defense budget, and keep tax rates steady.
Yet the agreement also included a new provision to add NIS 7b-8b more shekels to cover the costs of Operation Protective Edge.
Lapid had previously said that the costs of the summer war with Hamas would be covered by a 2% across-the-board cut in the 2014 budget.
Defense Minister Moshe Ya’alon has lobbied aggressively for a NIS 11b increase to the defense budget.
By setting a significant chunk aside to cover one-time costs, the increase will have a less pronounced effect on future budgets, which are based on automatic spending increases.
Without further raising taxes or the deficit, it is as of yet unclear where the billions in extra funds will come from.
Content is provided courtesy of the Jerusalem Post
Will this ganev give back the $$ he took away from the jewish kids?
(he anyway didn’t worked for that money its USA $)