Teachers to receive NIS 500m in compensation

Education Minister Meir Sheetrit, the Ministry of Finance and the teachers' unions reached an agreement Thursday according to which teachers will each receive an average payment of NIS 3,000 as compensation for the erosion of their salaries over the past seven years. All together, the Finance Ministry will allot the teachers some NIS 500 million which it has committed to paying immediately following the passing of the 2006 budget.