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| By: Israel Insider staff and partners |
| Published: January 7, 2007 |
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Just three days after the Knesset passed Israel's budget for 2007 late last week, the government authorized an NIS 800 million cut to ministerial budgets. The cut was made in order to finance additional funds for the defense establishment.
Finance Minister Abraham Hirchson (Kadima) told Ynet the budget cut, "is consistent with the government's efforts to reduce the deficit, limit spending and complies with the fiscal goals set by the government and the Knesset." He also said that "it aids us in implementing an economic polity that supports growth, lowering the rate of the debt against the GNP (gross national product) and improving Israel's credit rating."
Thirteen ministers voted for the budget cut and eight ministers voted against it.
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