Israeli government approves unprecedented USD8B annex budget for Gaza conflict's needs


(MENAFN) On Tuesday, the Israeli government approved an annex budget, described as unprecedented, with an estimated value of USD8 billion to address the requirements of the conflict against Gaza.

The newly sanctioned annex budget, totaling 30 billion Israeli shekels, is intended to cover the financial needs of the ongoing war until the conclusion of the year, as reported by an Israeli public broadcaster.

According to the news agency, Benny Gantz, a member of Israel's War Cabinet Council, expressed opposition to the budget, aligning himself against Premier Benjamin Netanyahu as well as Defense Minister Yoav Gallant.

Ofir Gendelman, spokesman for Netanyahu, clarified on Monday that the annex budget would encompass military expenses, the support of families of injured and deceased Israelis, as well as those with members held in captivity in Gaza.

Recent weeks have seen various Israeli and international reports forecasting potential economic repercussions resulting from the conflict with Gaza.

Notably, as part of the military measures, approximately 360,000 reservists were mobilized, adding strain to Israel's economic commitments.

Furthermore, the evacuation of nearly a quarter of a million Israelis from areas near Gaza and northern regions bordering Lebanon since October 7, with the government covering expenses for housing them in hotels and residences, adds additional economic considerations.

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