Breaking recent trend, Israel’s finance minister likely to recommend 1-year budget for 2013

28.05.2012                      07.Siwan. 5772                    Schawuoth 2

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Breaking recent trend, Israel's finance minister likely to recommend 1-year budget for 2013

Yuval Steinitz has been pushing for a two-year budget; change could come in light of 2013 elections.

Finance Minister Yuval Steinitz is likely to recommend a one-year state budget next year, rather than the two-year budget for 2013 and 2014 he previously advocated, according to a senior government source.
Until recently, Steinitz had been pushing for a two-year budget – as was enacted for 2009-2010 and for 2011-2012 – despite advice to the contrary from ministry staff. Steinitz appears to have reconsidered for two main reasons. Firstly, elections must be held by the end of 2013 and it was thought inappropriate to pass a budget extending beyond the life of the current government. Secondly, there has been concern that a major decline in government revenue could force drastic revision of any 2014 budget that might be passed….