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.
An unusual blast of cold air from Antarctica has swept across Uruguay, causing the deaths of at least seven homeless people and forcing authorities to declare a state of emergency.
Türkiye has thrown its full support behind NATO’s new pledge to raise collective defence spending to 5% of GDP by 2035, with Ankara confirming it is already surpassing the previous 2% benchmark and accelerating efforts to bolster national and regional security.
The United Kingdom has withdrawn its support for a major renewable energy project that aimed to supply power from Morocco to Britain through underwater cables, citing concerns over security and delivery risks.
Greek firefighters are battling a large wildfire south of Athens as the country faces its first major heat wave of the summer, with temperatures nearing 40°C and strong winds fuelling the flames.
At least 29 students were killed and more than 250 injured in a stampede at Barthelemy Boganda High School in Bangui, the capital of the Central African Republic, authorities confirmed Thursday.
An unusual blast of cold air from Antarctica has swept across Uruguay, causing the deaths of at least seven homeless people and forcing authorities to declare a state of emergency.
Türkiye has thrown its full support behind NATO’s new pledge to raise collective defence spending to 5% of GDP by 2035, with Ankara confirming it is already surpassing the previous 2% benchmark and accelerating efforts to bolster national and regional security.
The United Kingdom has withdrawn its support for a major renewable energy project that aimed to supply power from Morocco to Britain through underwater cables, citing concerns over security and delivery risks.
Greek firefighters are battling a large wildfire south of Athens as the country faces its first major heat wave of the summer, with temperatures nearing 40°C and strong winds fuelling the flames.
At least 29 students were killed and more than 250 injured in a stampede at Barthelemy Boganda High School in Bangui, the capital of the Central African Republic, authorities confirmed Thursday.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
A fire that broke out Thursday evening at the “Azerbaijanfilm” studio in Baku has been brought under control, following an explosion reported in an old pyrotechnics area of the complex.
Israeli Prime Minister Benjamin Netanyahu said Thursday that Israel’s recent victory in its conflict with Iran opens a path to expanded peace deals, including the possible addition of Saudi Arabia and Syria to the Abraham Accords.
A key unit at Iran’s South Pars gas field, damaged during Israel’s first strike on the country’s energy infrastructure, has resumed operations just 10 days after the attack.
Uzbekistan’s economy is set to expand by 6.5 percent by the end of 2025, driven by rising household income and sustained investment, according to the Eurasian Development Bank.
Kazakhstan will create six new nature conservation institutions to preserve biodiversity, aiming to increase protected territories to 12.5% of the national area.
An unusual blast of cold air from Antarctica has swept across Uruguay, causing the deaths of at least seven homeless people and forcing authorities to declare a state of emergency.
Türkiye has thrown its full support behind NATO’s new pledge to raise collective defence spending to 5% of GDP by 2035, with Ankara confirming it is already surpassing the previous 2% benchmark and accelerating efforts to bolster national and regional security.
The United Kingdom has withdrawn its support for a major renewable energy project that aimed to supply power from Morocco to Britain through underwater cables, citing concerns over security and delivery risks.
Greek firefighters are battling a large wildfire south of Athens as the country faces its first major heat wave of the summer, with temperatures nearing 40°C and strong winds fuelling the flames.
At least 29 students were killed and more than 250 injured in a stampede at Barthelemy Boganda High School in Bangui, the capital of the Central African Republic, authorities confirmed Thursday.
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