Cabinet okays finance minister to draft 3-year budget framework

29 October 2017, 2:31 pm

Edit

The cabinet votes in favor of Finance Minister Moshe Kahlon’s proposal to release some NIS 3.5 billion in budget surplus to allow him to draft a 3-year budget framework for 2019, 2020 and 2021.

Last year the Supreme Court ruled out any future two-year budgets from being advanced unless the Knesset overhauls its Basic Law on the state economy, though it kept the government’s 2017-2018 budget intact.

Instead of passing a two- or even three-year budget, as has also been suggested in the past, Kahlon will instead now be able to formulate the macro-principles guiding each year’s spending goals, even without being able to set a specific budget for each ministry.