In a dramatic move, the Knesset plenum today (Monday) approved in a first reading Finance Minister Bezalel Smotrich’s proposal to increase government spending by 3.357 billion shekels for 2024. The proposal, intended to finance expenses related to the ongoing war, passed with a majority of 58 supporters and 52 opponents.
The additional budget is earmarked for funding various urgent expenses, including the costs of evacuating frontline settlements, assisting freed hostages, and supporting reservists. “The State of Israel is challenged on many fronts,” said Smotrich after the vote. “We are working both on the frontlines and on the home front for the cause, and today’s vote helps with that.”
The minister called on opposition members to join and support the proposal out of national responsibility. “It would have been better if opposition members voted in favor of continuing funding for evacuees and reservists—this is a war for all of us together,” he emphasized.
Despite the call for unity, the vote reflected the ongoing political tension. Opposition members expressed concern about increasing the deficit and its long-term economic implications, while supporters of the proposal argued that it is essential to continue the war effort.
Smotrich stressed that the budget adjustments would provide the “necessary conditions for the continuous conduct of the war against those who seek our harm.” However, economic experts warn that increasing the deficit could affect the stability of the economy in the long term.
The proposal is expected to continue sparking public and political debate as it advances through the legislative process. Coalition members express confidence that the proposal will pass in the subsequent readings, while the opposition promises to continue fighting against it.
Meanwhile, the Ministry of Finance has already begun preparations to implement the additional budget, with an emphasis on quickly transferring funds to relevant parties in the field. The expectation is that the funds will significantly assist citizens directly affected by the war and support the overall war effort.
