From the Liveblog of
Wednesday, December 4, 2024
2025 state budget to be advanced in Knesset today
Sam Sokol is the Times of Israel's political correspondent. He was previously a reporter for the Jerusalem Post, Jewish Telegraphic Agency and Haaretz. He is the author of "Putin’s Hybrid War and the Jews"
The 2025 state budget and accompanying Arrangements Bill will be placed on the Knesset table today, kicking off the legislative process toward its eventual passage, Finance Minister Bezalel Smotrich and Knesset Speaker Amir Ohana announce in a joint statement.
“The State of Israel is facing the longest and most expensive war in its history,” the pair state, touting the “economic support” provided to reservists, businesses in affected areas and the reconstruction of the north and south due to close collaboration between the ministry and Knesset.
“The government of Israel, the Knesset, and all citizens of the country are working hand in hand, on the military front and the home front, for military, economic, and political victory. Together, we will win this campaign as well,” they state.
The budget must be passed by the end of March 2025 or the government will automatically fall, triggering early elections. It includes tax hikes and spending cuts to try to rein in a budget deficit now running at 8.5 percent of GDP.
