BREAKING NEWS

Two-year budget clears parliamentary hurdle

The Knesset approved in its first reading Monday bills allowing for the new budget to be a two-year one, spanning what is left of 2013 and all of 2014.
The amendments to two laws – Basic Law: State Budget and the Economic Arrangements Law - are temporary orders, which passed with 56 in favor and 30 opposed and 57 in favor and 31 opposed, respectively. They will have to go through two more votes each in the plenum.Finance Minister Yair Lapid explained in the Knesset that it's only a temporary order, because he prefers that budgets last only one year in the future. Lapid called a one-year budget more democratic, because it gives the opposition more chances to propose alternatives.
 
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