Haaretz: Treasury seeks new round of fiscal cuts
Published on Sep 04 2012 // Business and Financial News, Economy
Sep.04, 2012 | 1:59 AM–In an effort to help close the huge gap between spending and revenues in the 2012 budget, the Finance Ministry on Monday asked the Knesset Finance Committee to approve a new round of budget cuts to government ministries totalling NIS 785 million.
At the same time, the treasury wants to add NIS 130 million to Defense Ministry’s allocations, partly to cover the costs of erecting a facility for illegal migrants in the south.
Gal Hershkovitz, the treasury’s budget director, presented the request yesterday for a vote slated for next week. The deficit is NIS 4.75 billion wider this year than had been built in the 2012 budget…Read More>>
