Bank of Israel

Money Moves

Warnings on deficit overridden by Knesset

Israel's parliament voted 62-55 to approve the country's largest-ever state budget — 850.6 billion shekels ($271 billion) — with two days to spare before a legal deadline that would have dissolved the government and triggered new elections. The defense ministry alone received 143 billion shekels ($45.8 billion), reflecting the cost of ongoing military operations against Iran that are running at an estimated $480-550 million per day.

Updated May 30