Israel’s Knesset Approves First State Budget in 4 Years in First Reading

Israel’s Knesset approved the proposed state budget for the next two years in its first reading by a vote of 59-53. It is the first time that a budget has been considered by the country’s parliament since 2018. The lawmakers must now also pass a so-called arrangements bill to determine how the allocation will be implemented. Not only is the country in dire need of a new budget, since government ministries have been operating on allocations that are nearly four years old, but failure to pass the budget in three readings in the Knesset by November 4 would also automatically bring down the government and trigger new elections. Israeli Finance Minister Avigdor Liberman, head of the Yisrael Beitenu party, called the submission of the budget to the Knesset a “day of celebration. … Today’s debate symbolizes the end of the era of tyranny and a return to normalcy. It’s proof that the government is working and the coalition is working.” The two-year budget allocates some $135 billion for 2021 and $140 billion for 2022.