Knesset Passes 2024 Budget in First Reading

Israel Prime Minister Benjamin Netanyahu leads a Cabinet meeting on the state budget, at the Prime Minister’s Office in Jerusalem on March 5, 2023. (Marc Israel Sellem/POOL)

The state budget and the economic plan for the years 2023-2024 were approved in the first reading in the Knesset plenum.

The state budget for 2023 will amount to approximately 484 billion shekels ($134.4 billion) and in 2024 to approximately 514 billion shekels ($140 billion).

The law was approved by a majority of 41 supporters against 32 opponents.

The Arrangements Law for the next two years was approved in its first reading as well.

The Arrangements Law is a government-sponsored bill presented to the Knesset each year alongside the budget. It incorporates government bills and legislative amendments that are needed in order for the government to fulfill its economic policy.

It takes three readings – votes – of the full Knesset to pass a state budget.

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