Israel cabinet approves 91 billion dollar budget

0 Comments | AFP, August, 2008

JERUSALEM (AFP) — The Israeli cabinet approved a 91 billion dollar draft budget in a marathon session that concluded at 2 am on Monday (2300 GMT Sunday,) public radio reported.

Thirteen ministers voted in favour of the draft budget presented by Finance Minister Roni Bar-On and 12 voted against.

Of the total 16 billion dollars destined for defence, 2.4 billion will come from US aid.

Parliament is scheduled to hold a final vote on the draft later this year, although the timetable could be extended by three months if the budget has not been passed by December 31.

Should parliament still reject the budget by the end of March, the government would collapse and snap elections would have to be held within three months.

© 2008 AFP