Israel passes 2015 state budget with $1.6 billion defense increase

( After a marathon meeting late on Tuesday night, cabinet ministers approved the 2015 Israeli national budget early on Wednesday.

The overall budget will stand at $88 billion, with the primary alteration being an additional $1.6 billion for the defense establishment. There is also a one-time addition of $1.2 billion to cover the cost of Operation Protective Edge.

“The security threats surrounding Israel, much like what materialized [on Tuesday with Hezbollah’s blasts on the northern border], obligate us to invest considerable sums in security, and to also invest in communities located near hostile borders,” Prime Minister Benjamin Netanyahu said, according to Israel Hayom.

Posted on October 8, 2014 .