Knesset approves first reading of state budget

Knesset approves first readings of the State Budget Law and the Arrangements Law for 2017 and 2018.

Ben Ariel,

Moshe Kahlon
Moshe Kahlon
Yonatan Sindel/Flash 90

The Knesset approved on Wednesday evening the first readings of the State Budget Law and the Arrangements Law for 2017 and 2018.

60 Knesset members voted in favor of the two bills, while 50 voted against it.

The State Budget Law will now be transferred to the Knesset Finance Committee, where it will be prepared for its second and third readings. The Arrangements Law will be discussed among several committees in the Knesset as it is prepared for its second and third readings.

Before the vote, Finance Minister Moshe Kahlon (Kulanu) said, "The budget presented to you is a social budget. This budget belongs to the state's citizens as a whole, not to the right or to the left and not to the coalition or the opposition.

“This is a social, responsible and balanced budget which benefits the Israeli public,” he continued. “We will continue to increase Israel's public spending. Those who need to enjoy the fruits of growth are, above all, those in need of support and assistance to escape the cycle of poverty in order to enjoy the progress and the opportunities that Israel has to offer. It is a budget for growth, reduces social gaps, increases public spending, cuts taxes and continues the momentum of all government ministries with an emphasis on social ministries.”

The budget will stand at 359.7 billion shekels in 2017 and 376.7 billion shekels in 2018. The deficit target for the next two years will be 2.9% of the GDP.




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