Israel's parliamentary finance committee approved the 2025 state budget late on Sunday, paving the way for a final parliamentary vote before the March 31 deadline, crucial to preventing the government's collapse.
The approval came after a lengthy 13-hour debate, during which opposition lawmakers criticised the government for a lack of transparency regarding spending. The Finance Ministry clarified that some expenditures were pending government decisions, hence not reflected in the budget yet.
The 2025 budget totals 756 billion shekels ($203.5 billion), with spending excluding debt set at 620 billion shekels—an increase of 21% from 2024. Defence spending alone reaches a record 110 billion shekels, driven by increased military expenditure following conflicts in Gaza and Lebanon, which cost Israel $31 billion in 2024.
Finance Minister Bezalel Smotrich initially aimed to finalise the budget by the end of 2024, but coalition disputes delayed proceedings. Despite these setbacks, the government's survival seems secure.
To manage the budget deficit, set at 4.9% of GDP, the proposal includes several tax increases. This aims to prevent further deterioration of Israel's fiscal standing, following a deficit of 6.8% in 2024 which triggered credit rating downgrades.
Finance committee chair Moshe Gafni acknowledged the complexity of the budget, emphasising efforts to reduce tax burdens on citizens amid challenging circumstances.
A date for the final parliamentary vote remains unconfirmed.
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Pope Francis' health was so precarious during his recent 38-day hospital stay that his doctors considered halting treatment at one point, allowing him to pass away peacefully, according to the head of his medical team.
As famine continues to ravage parts of Sudan, humanitarian workers report that the paramilitary Rapid Support Forces (RSF), engaged in an ongoing conflict with the Sudanese army, are tightening their grip on relief supplies.
In an effort to rejuvenate peace talks surrounding the ongoing conflict in eastern Congo, Southern and Eastern African countries have expanded their team of former heads of state overseeing the mediation process.
The Ministry of Foreign Affairs of Armenia hosted the presentation of the Armenian translation of the book by Iran's Foreign Minister Seyed Abbas Araqchi, titled "The Power of Negotiations: Principles and Rules of Political and Diplomatic Negotiations."
The Department of Energy (DOE) has instructed its employees to label documents related to the agency’s review of grants and contracts under the controversial DOGE initiative with "legal privilege," in a bid to prevent them from being disclosed under the Freedom of Information Act (FOIA).
OpenAI has unveiled significant updates to its Advanced Voice Mode feature for ChatGPT, making its AI voice assistant more personable and responsive to user needs.
Slovakia has declared an emergency situation following the discovery of foot-and-mouth disease on three farms in the southern part of the country, the government announced on Tuesday.
Denmark’s Prime Minister, Mette Frederiksen, criticized the United States for placing "unacceptable pressure" on Greenland, ahead of a high-profile U.S. delegation’s visit to the semi-autonomous Danish territory this week.
Pope Francis' health was so precarious during his recent 38-day hospital stay that his doctors considered halting treatment at one point, allowing him to pass away peacefully, according to the head of his medical team.
Sweden’s Prime Minister Ulf Kristersson stated on Thursday that purchasing U.S. weapons does not pose a security risk for his country, but emphasized the need for Europe to reduce its reliance on American defense systems. His comments come amid growing discussions within Europe.
NASA astronauts Butch Wilmore and Suni Williams completed an unexpectedly long 286-day mission on the ISS, returning to Earth aboard a SpaceX capsule after delays caused by technical issues with Boeing’s Starliner.
Mexican forces have dismantled a massive meth lab in Zacatecas, dealing a blow to a Sinaloa Cartel faction.
Serbia’s parliament has officially accepted the resignation of Prime Minister Milos Vucevic, setting a 30-day deadline for the formation of a new government or the calling of snap elections.
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
The Department of Energy (DOE) has instructed its employees to label documents related to the agency’s review of grants and contracts under the controversial DOGE initiative with "legal privilege," in a bid to prevent them from being disclosed under the Freedom of Information Act (FOIA).
The Ministry of Foreign Affairs of Armenia hosted the presentation of the Armenian translation of the book by Iran's Foreign Minister Seyed Abbas Araqchi, titled "The Power of Negotiations: Principles and Rules of Political and Diplomatic Negotiations."
Armenian Parliament Speaker Alen Simonyan stated on Tuesday that there are no expected changes in Armenia’s relations with the Collective Security Treaty Organization (CSTO), despite ongoing discussions regarding the country’s stance on the military alliance.
Armenian Prime Minister Nikol Pashinyan has met with a delegation led by Iranian Foreign Minister Seyed Abbas Araghchi, who is in Yerevan on an official visit.
Armenian Foreign Minister Ararat Mirzoyan, speaking at a joint press conference with Iranian Foreign Minister Abbas Araqchi, highlighted the significance of the existing economic cooperation between the two countries.
The Department of Energy (DOE) has instructed its employees to label documents related to the agency’s review of grants and contracts under the controversial DOGE initiative with "legal privilege," in a bid to prevent them from being disclosed under the Freedom of Information Act (FOIA).
OpenAI has unveiled significant updates to its Advanced Voice Mode feature for ChatGPT, making its AI voice assistant more personable and responsive to user needs.
Slovakia has declared an emergency situation following the discovery of foot-and-mouth disease on three farms in the southern part of the country, the government announced on Tuesday.
Denmark’s Prime Minister, Mette Frederiksen, criticized the United States for placing "unacceptable pressure" on Greenland, ahead of a high-profile U.S. delegation’s visit to the semi-autonomous Danish territory this week.
Pope Francis' health was so precarious during his recent 38-day hospital stay that his doctors considered halting treatment at one point, allowing him to pass away peacefully, according to the head of his medical team.
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