Opposition by some of his coalition partners will probably thwart Prime Minister Benjamin Netanyahu's plan to approve a triennial budget for 2015-2017. Sources inform "Globes" that the leaders of the coalition parties, including Minister of Finance Moshe Kahlon and Knesset Finance Committee chairman Moshe Gafni, do not believe that a three-year budget can be passed. Netanyahu has been making efforts in recent days to attain consent to a triennial budget in order to bolster governmental stability.
Netanyahu's team has been working in recent days to reach agreement with the Ministry of Finance and the Knesset Finance Committee on the new plan. At the same time, however, the Ministry of Finance this week began its discussions of the 2015-2016 budget. Sources close to Kahlon today said, "Work by the professional echelons to prepare a two-year state budget is continuing." Opposition MKs today objected to the Prime Minister's three-year budget plan, which they says has caused postponement of a vote on a temporary order delaying Knesset approval of the state budget to November 2015.
Former Deputy Minister of Finance MK Mickey Levy said, "This foolish and cowardly decision by the Prime Minister is liable to lead Israel into an economic catastrophe. The biennial budget has already proven a resounding failure, causing a NIS 39 billion deficit, which is why we eliminated it in the previous government." Gafni told the opposition Knesset Finance Committee members, "What is on the agenda is what I said on Monday - setting a date for approval of a budget for 2015-2016 in early or late November. The Prime Minister asked me to wait, so I'm waiting."
Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2015
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