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.
Greek Prime Minister Kyriakos Mitsotakis visited Türkiye on Wednesday as part of a large delegation for talks with President Recep Tayyip Erdoğan....
Turkish President Recep Tayyip Erdoğan and Greek Prime Minister Kyriakos Mitsotakis oversaw the signing of seven cooperation agreements in Ankara on ...
U.S. Attorney General Pam Bondi became embroiled in a shouting match with Democratic lawmakers during a combative House Judiciary Committee hearing on...
Russia will continue to adhere to the strategic missile and warhead ceilings set under the now-expired New START agreement, provided the United States...
Day five of the Milano Cortina 2026 Winter Olympics delivered raw emotion, technical brilliance and striking alpine backdrops as athletes battled for ...
Greek Prime Minister Kyriakos Mitsotakis visited Türkiye on Wednesday as part of a large delegation for talks with President Recep Tayyip Erdoğan.
Turkish President Recep Tayyip Erdoğan and Greek Prime Minister Kyriakos Mitsotakis oversaw the signing of seven cooperation agreements in Ankara on 11 February 2026, marking a further step in efforts to stabilise and deepen ties between the two NATO allies.
U.S. Attorney General Pam Bondi became embroiled in a shouting match with Democratic lawmakers during a combative House Judiciary Committee hearing on 11 February 2026, after she refused to apologise to Jeffrey Epstein survivors seated in the room.
Russia will continue to adhere to the strategic missile and warhead ceilings set under the now-expired New START agreement, provided the United States does not exceed those thresholds, Foreign Minister Sergei Lavrov told lawmakers on Wednesday.
JD Vance arrived in Armenia on Monday (9 February), becoming the first sitting U.S. Vice President to visit the country, as Yerevan and Washington agreed to cooperate in the civil nuclear sector in a bid to deepen engagement in the South Caucasus.
The United States and Azerbaijan signed a strategic partnership in Baku on Tuesday (10 February) encompassing economic and security cooperation as Washington seeks to expand its influence in a region where Russia was once the main power broker.
Buckingham Palace said it is ready to support any police investigation into allegations that Prince Andrew shared confidential British trade documents with late sex offender Jeffrey Epstein, as King Charles expressed “profound concern” over the latest revelations.
U.S. military forces have seized a sanctioned oil tanker in the Indian Ocean after tracking the vessel from the Caribbean Sea, the Pentagon said on Monday.
“Peace is not just about signing treaties - it’s about communication, interaction and integration,” Sultan Zahidov, leading adviser at the AIR Center, told AnewZ, suggesting U.S. Vice President JD Vance's visit to the South Caucasus could advance the peace agenda between Azerbaijan and Armenia.
Plans to merge Tbilisi State University and Georgian Technical University have been scrapped by Georgia’s Prime Minister Irakli Kobakhidze, who backed down on the proposed move after days of backlash from lecturers and students.
Afghanistan’s humanitarian situation remained severe throughout 2025, with millions still struggling to meet basic needs, according to a new report by the International Committee of the Red Cross (ICRC).
Uzbekistan is combining renewable energy expansion with sweeping land restoration, installing solar stations in local communities while rehabilitating degraded farmland to spur rural development and climate-smart growth, the government has announced.
The United States and Azerbaijan signed a new strategic partnership agreement in Baku on Tuesday, expanding cooperation on defence, energy security, artificial intelligence and economic ties.
The United States and Azerbaijan signed a strategic partnership in Baku on Tuesday (10 February) encompassing economic and security cooperation as Washington seeks to expand its influence in a region where Russia was once the main power broker.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment