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Israeli Parliament Approved $2 Billion State-Budget Cut

Israel’s parliament, the Knesset approved the government’s economics-stringencies package on Thursday morning.

The Treasury says it will call for a further $200 million state budget cut in addition to the $2 billion reduction approved last night.

The package includes raising the pensionable age to 67, cutting benefits and the privatization of key industries.

The bill was approved by 48 votes to one after the opposition parties staged a walkout protest.