Treasury seeks NIS 3.6b transfer to Defense Ministry

Operation Protective Edge picture: Reuters
Operation Protective Edge picture: Reuters

The amount is to cover some of the expenses of Operation Protective Edge in the summer.

The Ministry of Finance will today ask the Knesset Finance Committee to approve the transfer of a further NIS 3.6 billion to the Ministry of Defense. This is to cover the expenses of Operation Protective Edge in the summer.

The budgetary sources of this sum are NIS 1.1 billion from ministries budgets from 2013 and NIS 2.5 billion from the general reserve for ministries in 2014 that has not yet been fully utilized.

The Ministry of Finance is supposed to compensate the Ministry of Defense with an overall sum of NIS 7 billion for the fighting as part of a compromise arrangement struck by Prime Minister Benjamin Netanyahu. The Defense Ministry had been demanding NIS 9 billion and the Ministry of Finance agreed to pay NIS 6.5 billion.

The Knesset Finance Committee headed by MK Nissan Slomiansky has so far approved NIS 2.8 billion for the Ministry of Defense, and approval of the latest amount will bring the total paid so far to NIS 6 billion.

Published by Globes [online], Israel business news - www.globes-online.com - on November 27, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

Operation Protective Edge picture: Reuters
Operation Protective Edge picture: Reuters
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