Knesset approves biennial budget

JERUSALEM (JTA) – Israel’s Knesset approved a bill to allow a two-year budget.

It is the first time that Israel will have a biennial budget.

The bill passed the second and third readings, 63 to 27, early Tuesday morning after a 21-hour filibuster by opponents.

The Cabinet unanimously approved the bill last Sunday.

The government has until July 15 to pass a budget or call new elections.

Finance Minister Yuval Steinitz said the new format will allow for more strategic economic plannning. 

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