BREAKING NEWS

Manufacturers president warns against defense budget cuts

The president of the Manufacturers Association, Shraga Brosh, urged Finance Minister Yuval Steinitz not to cut the defense budget, a move he said would lead to lay-offs and damage to security infrastructure, Israel Radio reported Wednesday.
Brosh wrote to Steinitz that a NIS 1 billion cut would lead to the closure of ten industrial plants, the layoffs of about 1,500 employees, and a loss of nearly NIS 4 billion to Israel defense exports. The government has been mulling cutting the defense budget as part of wider adjustments to the nation's budget in order to help alleviate the increasing cost of living which led to nation-wide protests throughout this last summer.
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