Binyamin Netanyahu and Moshe Kahlon
Binyamin Netanyahu and Moshe Kahlon Miriam Yisrael Salam, Flash 90

Israeli Prime Minister Binyamin Netanyahu and Finance Minister Moshe Kahlon (Kulanu) on Monday met to speak about Israel's economy.

During the conversation, Netanyahu and Kahlon agreed to formulate a plan for reducing taxes, since Israel's economy had made several steps forward during the past year.

The conversation follows Kahlon's Saturday night announcement that he would work to lower taxes in the near future.

"We're about to lower taxes," Kahlon told Channel 2's Meet the Israeli Press program on Saturday night. "We need to give money back to the weaker sectors of society."

It is not yet clear what the plan will entail or which taxes it will include.