Finance Ministry: Barak's budget ideas endanger stability

November 1, 2011 14:31

The Finance Ministry on Tuesday rejected Defense Minister Ehud Barak's calls for a new budget that would take into account defense needs as well as the demands of social justice protesters.

"The defense minister's proposal will enslave the State of Israel in a future of tremendous debt, and endanger its economic stability," the Finance Ministry said in a statement.

"One of the central principles which stabilized Israel is a policy of fiscal responsibility and preservation of budgetary limits. At the present time, in the face of the financial crisis in the US and Europe, Israel must preserve this economic policy," the Finance Ministry added.

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