Israeli Cabinet approves spending cuts in budget

The Israeli Cabinet approved deep spending cuts in a $26.4 billion austerity budget, two thirds of which is swallowed up by defense and the national debt.

Israeli Finance Minister Yoram Aridor had warned that without the cuts, inflation could double from the present 127 percent.

The Finance Ministry said the budget deficit was expected to be around 2.4 billion dollars. The budget will be sent to the Knesset probably next Sunday, the Finance Ministry said.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK