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.