Israeli Knesset Cuts Budget by 50 Million Shekels to Support National Economy

The Speaker of the Knesset, Amir Ohana, informed Finance Minister Bezalel Smotrich of a new budget cut of 50 million shekels from the Knesset's 2026 budget. This reduction will directly transfer funds to the state treasury to benefit the public. This is the fourth significant budget cut since Ohana began his term, bringing total savings to 376 million shekels. Previous cuts included 80 million shekels in November 2023, 121 million in January 2024, and 125 million in October 2025, the latter aimed at supporting war efforts.

The proposed cut is set to be approved soon by the joint committee overseeing the Knesset budget. The Knesset spokesperson emphasized that the reduction is carefully calculated to avoid harming the essential and ongoing functions of Israel's legislative body. They also assured that the budget cut respects the principles of the Knesset's financial independence and the separation of powers fundamental to Israeli democracy.

This move reflects the Knesset's commitment to contributing to the national economic effort amid current challenges. The decision underscores the legislative body's role in fiscal responsibility while maintaining its operational integrity.