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August 12, 2016 10:02 am

Israel’s Cabinet Approves Two-Year Draft Budget Aimed at Boosting Economic Growth

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The Israeli flag. Israel’s Cabinet approved new budget deal for 2017 and 2018. Photo: Wikimedia Commons.

The Israeli flag. On Friday, Israel’s Cabinet approved a new draft budget for 2017 and 2018. Photo: Wikimedia Commons.

Israel’s cabinet on Friday unanimously approved a draft budget for both 2017 and 2018 aimed at boosting economic growth but which the central bank has said is too expansionary.

The two-year budget includes safeguards that will allow the 2018 budget to be reassessed next year if initial economic and fiscal forecasts are missed, with a provision for spending cuts if necessary to reach the deficit target.

Read full story at Reuters.

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