September, March elections cost the country NIS 1.2 billion, Knesset learns

The Knesset Finance Committee hears from government finance officials today that the costs of the two elections that followed April’s inconclusive race will hit some NIS 1.2 billion — not including another estimated NIS 6 billion lost to the economy because election day is a work holiday.

The election for the 22nd Knesset on September 17 and the upcoming election for the 23rd Knesset on March 2 will cost the state coffers NIS 1,263,000,000 ($365 million), officials report to lawmakers.

The unprecedented repeat election in September was called after Prime Minister Benjamin Netanyahu failed to form a coalition following the April race and forced a Knesset vote to call new elections rather than let rival Benny Gantz make the attempt. It marked the first time in Israel’s history that an election did not result in the formation of government. Both Netanyahu and Gantz then failed to form ruling coalitions after the September race, triggering the third race in 11 months, slated for March 2.