Local Economy
Israel Faces a Financial Gap of $12.1 Billion Due to Military Spending
SadaNews - Israel is facing a financial gap of $12.1 billion between the 2025 budget and the demands of ministries for 2026 due to military spending.
Spending on the Gaza war has exceeded $76 billion, in addition to tens of billions to compensate reserve soldiers and for damages.
The Israeli government is also facing political difficulties in approving the 2026 budget, with the possibility of delaying it or resorting to a monthly budget for 2025, which is one-twelfth of the budget.
The Israeli Finance Minister has anticipated a reduction in income taxes and the imposition of a tax on large banks, along with the cancellation of tax exemptions for tourists on services such as hotels and car rentals.
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