JERUSALEM, March 13 (Xinhua) -- The Israeli parliament on Wednesday approved a revised state budget for 2024 to fund the country's war against Hamas in Gaza.
According to the Finance Ministry, the updated budget stands at about 584 billion shekels (about 161 billion U.S. dollars), an increase of 70 billion shekels compared to the original budget approved in May last year.
Defense spending alone will go up by 55 billion shekels.
The fiscal plan envisages a deficit of 6.6 percent of the gross domestic product.
The statement noted that the budgets of all government ministries were cut to support the balancing measures.
The new budget also includes several measures to increase state revenues, such as taxing bank profits and reducing convalescence payments for employees, as agreed with the largest Israeli worker union Histadrut.
(Editor:Fu Bo)
Amtrak train hits pickup truck in upstate New York, 3 dead including child
VOX POPULI: Some celebrate while others ponder time and space on leap day
China is drilling some of the deepest holes in hunt for natural resources
Weather updates: Warnings across South Island, Taranaki, Coromandel, Bay of Plenty
Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
VOX POPULI: Celebrating the arrival of spring the same way as in ‘Tale of Genji’
Hong Kong's exhibition centre axed booking for concert without reason, says pro
Hainan island: Known as 'China's Hawaii,' the vacation hotspot is also a strategic military base
Siblings trying to make US water polo teams for Paris Olympics
Coronavirus China update: China's funeral homes overcrowded amid COVID