Israeli government approves 1 billion shekel emergency ammunition purchase
The Israeli government approved the allocation of 1 billion shekels (approximately $333.4 million) on Sunday to the defence establishment for the urgent procurement of ammunition and weaponry. The proposal was submitted citing Israel's current state of emergency. The transfer was previously approved by the Ministerial Committee for Defence Procurement on Thursday and received final cabinet approval on Sunday. According to Ynet, the new credit does not exceed the existing budget framework, and specific details regarding the military equipment remain classified due to security restrictions. Of the total, 850 million shekels will be sourced from funds previously allocated by the Ministry of Economy and Industry for technology investment and job creation. These funds were intended for an Intel project, but following the company's decision to halt construction of its planned factory in southern Israel, the government opted to reallocate the capital to the Israel Defence Forces (IDF). The remaining 150 million shekels will be drawn from previously approved but unspent budgetary items. This decision brings Israel's total defence budget to a record 184 billion shekels (approximately $61.34 billion). The move follows Prime Minister Benjamin Netanyahu's recent announcement to the security cabinet of his intention to increase the long-term defence budget by an additional 50 billion shekels over the next decade. Under Netanyahu's proposal, the total long-term increase would rise to 400 billion shekels, up from the 350 billion shekels announced weeks earlier. The proposal was made without prior consultation with senior officials from the Ministry of Finance or the Bank of Israel. Several senior finance officials expressed surprise at the proposal, warning that its implementation would necessitate tax increases and further cuts to civilian ministry budgets.