BREAKING NEWS

Report: Finance minister trying to expedite biennial budget

By JPOST.COM STAFF

MAY 17, 2012 10:11

Finance Minister Yuval Steinitz headed to Knesset discussions on Wednesday to expedite his efforts to introduce a biennial budget for the 2013-2014 period, Israel Radio reported.

The finance minister is trying to overcome the predicament he encountered when a Finance Ministry bill stipulated that the government could only introduce a one-year budget in an election year, or during an economic crisis.

Since the coalition deal that brought Kadima into the government indefinitely postponed early elections, the finance minister has scrambled over a shortened timetable to craft the biennial budget, which Steinitz believes is necessary to maintain economic stability.

Steinitz sees the biennial budget as one of his office's prime achievements, and would like to stave off the chances that the country could be left without a budget after elections in 2013, according to Globes.

The finance minister faces resistance from opposition MKs who say Steinitz has embarked on an economic platform that is both inefficient and undemocratic, according to Israel Radio.

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