Finance Minister Yuval Steinitz praised the extension of Israel's bi-annual budget law by the Knesset on Tuesday morning. Steinitz said that “the bi-annual budget had proven itself and made a great contribution to Israel's economy, to the country's fiscal stability, and its ability to deal with global economic crises.”

Members of Knesset voted 63:32 in favor of the temporary order, leading to Israel's second bi-annual budget, following the passage of the 2009-2010 budget two years ago.