Netanyahu presents 2024 war budget, focuses on security and economy
Israeli Prime Minister Benjamin Netanyahu presented the 2024 state budget focused on enhanced security measures and economic adjustments


Israeli Prime Minister Benjamin Netanyahu emphasized the critical importance of approving the state budget for 2024, particularly in light of the ongoing conflict with Hamas, during his address at the beginning of the cabinet meeting on Sunday.
Netanyahu described the grim situation facing Israel, recounting the invasion by "the monsters of Hamas" 100 days ago, which involved horrendous acts of violence against Israeli citizens. He expressed the government's unwavering commitment to bringing all citizens home, stating, "We don't give up on anyone."
The Prime Minister then outlined the necessity of waging war against Hamas, which he expects to continue for several more months. This situation has led to the proposal of a 'war budget' for the upcoming year, acknowledging the need for increased security spending and a shift towards local production and self-sufficiency in military equipment and supplies.
Netanyahu also highlighted the immediate financial measures to support those affected by the war, including rewards and grants for reservists and their families, increased funding for the rehabilitation of settlements and kibbutzim, and support for evacuees. He underscored the government's focus on both immediate and long-term security.
In terms of fiscal adjustments, the Prime Minister mentioned the necessary budget cuts across all government ministries, including his own. He reassured that certain areas, such as tax credit points for parents of young children and the decision to not introduce VAT this year, were protected from these cuts. The budget also includes targeted tax increases, notably on bank profits and cigarettes.
Netanyahu stressed the importance of these budgetary changes in supporting Israel's defense and security needs. He acknowledged that these adjustments would lead to an increase in the deficit but justified it by pointing to Israel's robust economy. He called for unity and cooperation among all ministries and officials in supporting these measures.
The Prime Minister concluded his remarks by expressing his determination to finalize the budget within the next 24 hours, emphasizing the urgency and importance of passing a budget that ensures Israel's security and future.