Israeli's Finance Minister threatens to withdraw the 2001 state budget proposal if it is clear the opposition will succeed in blocking it, The Jerusalem Post reported Thursday.
"This is a responsible budget" Avraham Shochat, Israel's Finance Minster was reported by the daily as saying Wednesday at a press.
"And if it is not passed, starting on January 1st, 2001, the country will be operating under last year's budget".
The budget parameters include expenditures of NIS 194.2 billion (about $48b) and an overall budget of NIS 240.1b (app. $59.5b), an increase of NIS 5b, or 2.75 percent, over last year's budget, the press added, quoting the Treasury as saying that the money will come from higher tax revenues.
At more than nine billion dollars, defense spending still accounts for a large slice of the 50 billion dollar budget for 2001, which was approved by the cabinet in mid-August, according to a previous report AFP.
It is due to be considered by the Knesset, or parliament, after it returns from its summer break in late October before it can go into effect January 1 - (Several Sources)
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