The Israeli government has decided to go beyond the approved budget framework for 2024, increasing the budget expenditure by NIS 3.4 billion. The new spending does not comply with the recommendations of experts, who called for using coalition money or reducing the budget deficit.
The finance minister proposed to allocate significant sums for grants to residents of the provinces, compensation for the budget cuts in July, salary increases for teachers, grants for reservists and compensation for victims of the terrorist attack. However, the head of the budget department warned of the risks of going over budget without adjustments.
Despite the planned increase in spending, the Finance Ministry says the deficit will remain at 6.6%, thanks to an improved revenue forecast. Government spending will exceed expectations by NIS 16 billion, but the budget deficit will remain unchanged.
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