Israeli government deliberates approval of additional budget amounting to USD8B

(MENAFN) In a noteworthy development, the Israeli government is deliberating the approval of an extraordinary supplementary budget amounting to $8 billion on Monday. This substantial financial allocation is aimed at addressing the multifaceted needs arising from the extensive conflict that Israel has been engaged in within the Gaza Strip since October 7 of the previous year. Ofir Gendelman, the spokesperson for Arab media on behalf of the Israeli Prime Minister, conveyed this information through a tweet, characterizing the proposed budget as "unprecedented."

Gendelman outlined the comprehensive scope of the supplementary budget, indicating that it encompasses provisions to meet both defensive and offensive military requirements. Additionally, the financial plan is designed to extend support to the families affected by the conflict, including those of kidnapped individuals, the wounded, deceased, and evacuated citizens. While the tweet touched upon the assurance of continued economic prosperity, it lacked specific details regarding the economic aspects of the proposed budget.

Recent Israeli and international reports have highlighted the profound impacts of the Gaza conflict on the Israeli economy. The extensive mobilization of resources, including the summoning of 360,000 soldiers and reserve officers since the commencement of the war, has incurred substantial costs for the government. Moreover, the absence of these individuals serving in reserve forces from their civilian occupations has contributed to economic challenges. The conflict has also necessitated the evacuation of approximately a quarter of a million settlers from southern and northern Israel, with the government shouldering the responsibility of accommodating them in hotels and guest houses.


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