The Knesset approved the first reading of the 2024 additional budget proposal last night.

59 Knesset members supported the proposal, and 51 opposed it, sending it to the Finance Committee for review.

The bill sets the 2024 fiscal year expenditure budget at 760.5 billion shekels, increasing government spending by 33.180 billion shekels.

The deficit ceiling was raised to 7.7% of GDP.

The law amends the provisions of the second additional 2024 budget law to reflect increased expenditure for security and civil needs.

This is due to delays in special U.S. aid for the war worth 18 billion shekels, prolonged hostilities in that conflict, and rising interest payment costs on government debt.