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Israel Debates 2026 Budget Amid Gaza-War Profit Controversy

12/4/2025

Summary

Story summary

Israel's cabinet, led by Prime Minister Benjamin Netanyahu, is debating the 2026 budget, which must pass by March 2026.
Finance Minister Bezalel Smotrich criticized banks for Gaza-war profits and proposed taxing excess profits to promote competition.
He also urged reducing living costs and cutting income taxes.
Netanyahu said the budget is responsible and aligned with security needs.
Budget totals 760.6 billion shekels, with 90 billion for defense and a 3.2% GDP deficit.

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Story summary

Israel's cabinet, led by Prime Minister Benjamin Netanyahu, is debating the 2026 budget, which must pass by March 2026.
Finance Minister Bezalel Smotrich criticized banks for Gaza-war profits and proposed taxing excess profits to promote competition.
He also urged reducing living costs and cutting income taxes.
Netanyahu said the budget is responsible and aligned with security needs.
Budget totals 760.6 billion shekels, with 90 billion for defense and a 3.2% GDP deficit.