Israeli Knesset Finance Committee Approves $4 Billion Defense Budget Increase

The Knesset's Finance Committee has approved a significant transfer of funds, allocating approximately 15 billion shekels (around $4 billion USD) to the defense establishment. This allocation is intended for the rearmament of the Israel Defense Forces (IDF) and had been previously approved by the government two months prior. The transfer faced a delay in the Knesset, having been held up since August 2nd.

The approval was secured through an agreement between the ruling coalition and the opposition, adhering to the requirement that such transfers must be finalized within 90 days before an election. The committee is also set to consider additional fund transfers.

However, agreement has not yet been reached on a further 25 billion shekel (approximately $6.7 billion USD) increase that the defense establishment is seeking. Discussions on this additional funding are ongoing.