$222 billion "wartime budget" approved; Israel borrows to fund national defense

金色财经_ · 2026-03-30T05:11:59+00:00

The Israeli parliament approved the 2026 national budget, including a substantial supplementary defense budget to cover war expenses with Iran, totaling 699 billion shekels. Of this, defense spending is 143 billion shekels, with a deficit target of 4.9% of GDP.

金色财经_

2026-03-30 05:11:59

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Golden Finance reported on March 30 that the Israeli parliament approved the national budget for 2026, which includes a substantial supplemental defense budget to cover expenses related to the war with Iran. The funds will be raised through additional borrowing and cuts to social spending. This spending plan was approved by Israeli lawmakers early Monday morning with a vote of 62 in favor and 55 against, totaling 699 billion shekels (22.2 billion USD), setting the deficit target at 4.9% of GDP. Defense spending is the largest item, reaching 143 billion shekels—approximately 120% higher than before the outbreak of the Gaza war in 2023. Additionally, 6 billion shekels have been allocated to reserves for expenses related to the war with Iran or other military needs, bringing the supplemental defense budget to at least 38 billion shekels, about 2% of GDP. This extra funding is primarily used to replenish Israel’s military stockpiles and to pay the salaries of reservists. (Jin Shi)

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