Prime Minister Benjamin Netanyahu recently held an economic consultation with Finance Minister Bezalel Smotrich, Prime Minister Yossi Shelly, Finance Ministry Director General Shlomi Heisler, National Economic Council Chairman Avi Simhon and senior Finance Ministry officials, and agreed to bring a rapidly revised budget to the end of 2023.
Finance Ministry representatives presented the Prime Minister with a picture of the state of the Israeli economy and the forecast for the end of the year. In addition, they presented the necessary additions to the state budget as a result of the war. The civil war budget will be financed by increasing the deficit, channeling money from government spending in ministries, and cutting coalition agreements.
The prime minister approved the budget brought by the finance minister, and the two decided to bring the budget to the government and the Knesset as soon as possible.
The Prime Minister, the Minister of Finance, and representatives of the Ministry of Finance marked the reduction of bureaucracy and barriers as an important goal in the war budget, and placed the independence of local authorities in managing the budget, with an emphasis on the authorities near the conflict line in the south and north.
Netanyahu and Smotrich agreed that as soon as the final budget is completed by the professionals, the budget will be submitted to the government and the Knesset as soon as possible, and work on the 2024 budget will begin immediately.
It should be noted that the professional echelon in the Ministry of Finance recommended to Minister Smotrich to divert about NIS 8 billion of the coalition funds for 2023 and 2024 to the combat budget, but he decided to divert only NIS 1.6 billion out of the NIS 2.5 billion in the 2023 budget, and at this stage not to touch the coalition funds that are supposed to be released in 2024.
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