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Steinitz faces tight budget timetable

Tuesday, August 7, 2012

WN.com - Business News
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Steinitz faces tight budget timetable
Aug 8th 2012, 02:11

As the Finance Ministry goes into high gear on framing next year's state budget it must consider how to push through spending cuts of NIS 12 billion to NIS 14 billion, to account for increased spending and an anticipated decline in tax revenues. Treasury officials do not have much time to plan the budget cuts: On Monday Prime Minister Benjamin Netanyahu and Finance Minister Yuval Steinitz announced that the cabinet would consider the outlines of the defense budget next week. The framework for the entire state budget will be debated by the cabinet on September 2, with a vote scheduled for September 13. Treasury sources say it is the cabinet's responsibility to decide on substantial changes in...

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