TLDR

The Knesset Finance Committee has begun debating the government’s proposed renewed 2024 budget. Finance Minister Bezalel Smotrich presented the budget, which is based on three principles: providing for Israel’s war needs, cutting unnecessary budgets, and balancing the needs of all sectors. However, opposition members voiced concerns over the budget, particularly in light of the credit rating agency Moody’s decision to lower Israel’s rating for the first time ever. Calls for Smotrich’s resignation were made, and various aspects of the budget were criticized, including the failure to shut down unessential ministries and the allocation of funds to haredi schools that do not teach secular studies.

The Knesset Finance Committee has begun discussing the government’s proposal for a renewed 2024 budget. Finance Minister Bezalel Smotrich presented the budget, which is based on three principles: providing for Israel’s war needs, cutting unnecessary budgets, and balancing the needs of all sectors. However, opposition members expressed concerns about the budget, especially following Moody’s decision to lower Israel’s credit rating.

In response to the budget, opposition members criticized various aspects, such as the failure to shut down unessential ministries and the allocation of funds to haredi schools that do not teach secular studies. Yesh Atid MK Vladimir Beliak called for Smotrich’s resignation due to his handling of the economy and the fall in Israel’s credit rating. Other concerns raised included the continuation of the exemption for haredi men from IDF service.