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  1/29/2013, Shevat 18, 5773

Steinitz: Defense Cuts Needed


Finance Minister Yuval Steinitz said, Monday, that he assumed Israel will have to make "some moderate but still significant cuts" in the defense budget. Interviewed by Reuters, the former chairman of the Knesset Foreign Affairs and Defense Committee said, "It's not easy but we did it in the past."

The Treasurer said there are no plans to raise taxes to cover the deficit. He added he was likely to keep his position but allowed for the possibility that he might "have another capacity."