Israeli Government Approves Urgent 1 Billion Shekel Defense Procurement Funding
The Israeli government is set to approve the transfer of 1 billion shekels for urgent defense procurement. Most of the funds, 850 million shekels, will be reallocated from the Ministry of Economy and Industry's 2026 budget originally designated for technological sector investments. An additional 150 million shekels will come from previously reserved government budgets that have not yet been allocated due to pending legal and professional approval processes.
Alongside the funding approval, the government is expected to confirm the appointment of Lior Hayat as Israel's ambassador to Italy. In this role, Hayat will also serve as a non-resident ambassador to Malta and San Marino, and act as Israel's permanent representative to the United Nations food and agriculture agencies.
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