The Knesset, Israel’s parliament, approved the new budget for 2023-2024 in a second and third reading on October 13. The budget of the State of Israel for 2023 will be about NIS 484 billion (approximately $134 billion) and in 2024 about NIS 514 billion (approximately $143 billion).
The budget includes increased funding for education, healthcare, and social services. It also includes funding for infrastructure projects, such as new roads and railways, and for defense.
The approval of the budget comes at a time when Israel is facing a number of challenges, including a rising cost of living and a budget deficit. However, the government has said that the budget will help to address these challenges and promote economic growth.
