Israel increases defense budget by 453 mln USD
www.chinaview.cn 2006-12-18 19:55:23

    JERUSALEM, Dec. 18 (Xinhua) -- Israeli Prime Minister Ehud Olmert has decided to add NIS 1.9 billion (about 453 million U.S. dollars) to the defense budget, bringing the total state security budget to NIS 35 billion (about 8.3 billion U.S. dollars), local Yedioth Ahronoth reported on Monday.

    Olmert authorized on Sunday the budget increase, the report said, adding the new budget does not include the NIS 8 billion (about 1.9 billion U.S. dollars) given to the army immediately after the latest war in Lebanon.

    Israeli Defense Minister Amir Peretz demanded on Sunday's cabinet meeting that an additional NIS 3 billion (714 million U.S. dollars) be added to the defense budget beyond the funds originally being given.

    However, Finance Minister Abraham Hirchson adamantly objected to the addition, saying that such step may harm the country's social budgets.

    Yedioth Ahronoth quoted a source from the Finance Ministry as saying that the increase will require cutting some NIS 600 million(about 143 million U.S. dollars) from other budgets.

    Meanwhile, the finance minister said the additional money for defense will be made available by changes to the existing budget composition, adding that he believed he will be able to announce exactly where the money will be taken within the coming days.

    The Knesset (Israeli Parliament) will vote on the 2007 budget proposal and the Economic Arrangements Bill by the end of December. (1 U.S. dollar = around 4.2 NIS)

Editor: Fiona Zhu
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