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Knesset Adopts $791,800,000 National Budget for 1962-63 Fiscal Year

August 3, 1962
See Original Daily Bulletin From This Date

A national budget totaling 2,375,400,000 pounds ($791,800,000) for the 1962-63 fiscal year was adopted last night by the Knesset, Israel’s Parliament. The total is 18,000,000 pounds ($6,000,000) more than draft estimates submitted by the Government before the Knesset debate began. The difference is accounted for by an additional grant for the national water project and other special items.

Since the 1962-63 fiscal year began last April 1, the Government has been operating on an interim budget for the four-month period which expired at midnight Tuesday night, leaving the State without authority to make any disbursements yesterday.

The first victims of the stoppage of Government funds were the Knesset members themselves whose salaries are paid on the first of the month and, in accordance with Treasury instructions, no salaries were paid to Knesset members.

The Knesset will resume sessions next week–the last before the summer recess. Before adjourning, the House is expected to pass a compulsory savings bill which was originally scheduled for passage last month to enable deductions from July salaries. The major cause of the delay in the Knesset schedule was the discussions of the Soblen case which occupied the House and various committees throughout the month of July.

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