Israel resorted to lowering salaries to cover the budget deficit and compensate for the costs of the Gaza war
The Israeli Ministry of Finance plans & nbsp; to reduce the salaries of many categories within a plan aimed at reducing the budget deficit, and providing 5 billion shekels in the budget of 2025, the dollar equals 3.57 shekels, according to the Israeli newspaper Globes today. > According to the newspaper, the finances are considering imposing significant discounts on the salaries of doctors, teachers and employees with personal contracts in the civil service, It is up to about 3.3% per month between April and December 2025.
added this step as part of the efforts made to reduce the state’s general budget deficit due to the high costs of spending on the Gaza war, noting that it comes a year after the two sides reached An agreement on reducing the wages of public sector employees as part of the agreement.
This increased reduction aims to compensate for the period from December 2024 To March 2025, when these employees have not been included in reducing the salaries imposed on other public sector employees. Finance and the General Workers Union last November.
According to the newspaper, the deadline for approval of the budget with three readings in the Knesset is March 31, 2025. If the budget fails, for political reasons such as disputes over the law of recruitment or the repercussions of the war in Gaza, the Knesset will be resolved and the country will resort to elections. To 125 billion shekels (34.09 billion dollars) since the war on the Gaza Strip began on October 7, 2023. The Gaza war increased the proportion of Israeli public debt to 69% of GDP at the end of the year 2024 compared to 61.3% at the end of the year before last. It has in more than a year, and the consumer price index has increased more than 0.6% in January compared to December; Because of the high prices of food and housing and the increase in the cost of living. & Nbsp;
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