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October 8, 2014 12:01 pm

Israel Passes 2015 State Budget With $1.6 Billion Defense Increase

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The Israeli flag. Photo: Wikimedia Commons. – After a marathon meeting late on Tuesday night, cabinet ministers approved the 2015 Israeli national budget early on Wednesday.

The overall budget will stand at $88 billion, with the primary alteration being an additional $1.6 billion for the defense establishment. There is also a one-time addition of $1.2 billion to cover the cost of Operation Protective Edge.

“The security threats surrounding Israel, much like what materialized [on Tuesday with Hezbollah’s blasts on the northern border], obligate us to invest considerable sums in security, and to also invest in communities located near hostile borders,” Prime Minister Benjamin Netanyahu said, according to Israel Hayom.

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