BREAKING NEWS

Defense budget decreased by NIS 2.7 billion

By JPOST.COM STAFF

JULY 16, 2010 11:04

The government finalized the budget for the next two years on Friday, resulting in a decrease of NIS 2.7 billion in the defense budget in the next two years.

The Ministry of Finance had originally planned to cut defense funding by NIS 3 billion.

In addition, the age of retirement for career military individuals who are not technological specialists or combatants was raised to 50.

The meeting was held between Prime Minister Binyamin Netanyahu, head of the budget department in the treasury, various finance ministers and the Chief of Staff. A marathon budgetary meeting of over 12 hours was held on Thursday, and the final decisions were made on Friday morning.

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