News Briefs

  5/9/2012, Iyar 17, 5772

Treasury Weighs Major Cuts

The Treasury is considering significant budget cuts in an attempt to rein in the national deficit, Kol Yisrael reported. At the current rate, the deficit is expected to hit 30 billion shekels this year.

One option under consideration is a tax hike, to be coupled with stricter guidelines for tax exemptions.