ADVERTISEMENT
Israel Passes Last-Minute Spending for 2021 After Budget Failure
Israel Passes Last-Minute Spending for 2021 After Budget Failure
29 Dec 2020, 03:06 PM IST
(Bloomberg) -- Israel’s parliament has averted steep cuts to government spending next year despite its failure to pass a 2021 budget.
(Bloomberg) -- Israel’s parliament has averted steep cuts to government spending next year despite its failure to pass a 2021 budget.
Legislation approved late Monday with the Finance Ministry’s support will allow the government to maintain the same level of spending authorized this year in the throes of the coronavirus crisis. In all, the 2021 budget will total 419 billion shekels ($130.2 billion).
The legislature automatically dissolved last week after missing a deadline to approve the budget, leaving the country with no updated spending plan for a second year in a row, and sending it to its fourth election in two years.
©2020 Bloomberg L.P.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT