Aug 2, 2021 - World
Israel's cabinet passes first state budget in three years
Israel's new government approved the 2021-2022 state budget on Monday, after a meeting that lasted almost 24 hours.
Why it matters: Previous governments couldn't pass a budget amid the political crisis that engulfed Israel over the past three years — preventing many government reforms from moving forward.
The big picture: This is a big achievement for Prime Minister Naftali Bennett and his coalition partners.
- Passing the budget will significantly stabilize the new fragile government and will increase its survival chances for at least another 18 months.
What's next: The budget was approved by the government but still needs to pass a vote in the Knesset by the November 5th deadline.
- The budget will now move to negotiations in the Knesset committees.