💨 Abstract

The Israeli cabinet has approved a wartime budget package, including tax hikes and spending cuts, to fund its ongoing military operations in Gaza and Lebanon. The measures aim to reduce a budget deficit of 8.5% of GDP, and are expected to affect Israeli households, with VAT rising to 18% from 17%. The budget, worth $199.23 billion, also includes cuts across most ministries.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖