In budget outline, questions linger on funding defense

By
September 28, 2014 15:21

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The Finance Ministry on Sunday unveiled details of the 2015 budget framework, but admitted it still did not have sources for increased defense spending.

An agreement inked between Prime Minsiter Binyamin Netanyahu and Finance Minister Yair Lapid just hours before the Rosh Hashana holiday on Wednesday included a NIS 6 billion increase to the 2015 defense budget, and a NIS 7 billion increase in spending from the current year's budget.

The 2015 addition--NIS 4.3b of which was set aside as a one-time expenditure, not to be automatically included in future budgets--was covered by an increase in the deficit, which is planned at 3.4% of GDP.

But when asked where the funds to cover the NIS 7b in 2014 would come from, budget director Amir Levy noted that cuts from other ministries, reduced interest spending and the use of reserve funds did not totally cover the costs. Finance Ministry officials will meet in November on the issue.

Related Content

Breaking news
July 20, 2018
Top Senate Democrat says Trump shouldn't meet with Putin again

By REUTERS