Knesset panel boosts defense budget by nearly NIS 15 billion

By Stav Levaton

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Stav Levaton is a military reporter for The Times of Israel

The Knesset Finance Committee approves the transfer of nearly NIS 15 billion ($5 billion) to shore up the Defense Ministry and IDF budgets for this year.

The committee approves transferring NIS 11.75 billion ($3.9 billion) from the general reserve to the Defense Ministry, along with another NIS 3 billion ($995 million) from various defense expenditure and transportation budget items.

Details of how the funds will be used are classified and were presented to a joint meeting of the Finance Committee and the Foreign Affairs and Defense Committee, according to the Knesset.

The committee also approves NIS 164 million ($54.4 million) for National Insurance payments to workers placed on unpaid leave during Operation Roaring Lion and some NIS 801 million ($265.5 million) for the Finance Ministry, including NIS 630 million ($208.8 million) to bolster the Compensation Fund for payouts to businesses affected by the conflict with Iran.