US EditionIsrael to raise defence spending to meet security challenges
ISRAEL, JUL 17 – The budget increase, equal to about 2% of GDP, funds urgent weapons procurement and replenishes missile defence stockpiles amid multi-front conflicts since late 2023.
- On Thursday , the Finance and Defence Ministries said they will boost Israel’s defence budget by 42 billion shekels for 2025 and 2026.
- Since launching its Gaza offensive on Oct 7, 2023, military costs have surged amid wars against Hamas, Hezbollah and Iran along with air strikes on Syria over 21 months.
- The Defence Ministry signed a deal with Israel Aerospace Industries to accelerate Arrow interceptor production, with the system already showing a high interception rate and more interceptors on order.
- With the budget boost, the military can advance urgent procurement deals and replenish depleted stocks to support Gaza, Iran and Houthi operations, as Gen. Amir Baram said it will preserve Israel’s `qualitative edge`.
- In fiscal terms, the increase equals roughly 2% of GDP, the boost comes on top of this year's 110 billion-shekel defence budget, while the deficit, at 4.9% of GDP, should remain unchanged.
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Israel to boost defence spending amid ongoing conflicts
Jerusalem: Israel will raise its defence spending by 42 billion shekels (about 12.5 billion US dollars) in 2025 and 2026, the ministries of finance and defence said Thursday in a statement. Local media reported that the budget agreement will allow the Defence Ministry to “advance urgent and essential procurement deals critical to national security.” According to the ‘Times of Israel’, Finance Minister Bezalel Smotrich said the new defence budget…
Israel adds billions to defense spending amid ongoing wars growing challenges
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Israel to Raise Defence Spending to Meet Security Challenges
The Algemeiner
NewsmaxIsrael to Raise Defense Spending to Meet Security Challenges
Israel will raise defense spending by 42 billion shekels ($12.5 billion) in 2025 and 2026, the finance and defense ministries said on Thursday, citing the country's security challenges. The budget agreement will allow the Defense Ministry to "advance urgent and essential procurement deals critical to national security," the ministries said in a statement. Finance Minister Bezalel Smotrich said the new defense budget
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