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Israel Hikes Defense Spending By $700 Million

Agence France-Presse
8th January 2012

JERUSALEM - Israeli premier Benjamin Netanyahu announced Jan. 8 an increase of nearly $700 million in the defense budget, after saying last year that he would cut military spending to finance social reforms.

"We are going to add three million shekels to the defense budget," Netanyahu said at a news conference.

Netanyahu had in October supported the recommendations of a report he commissioned, by respected economist Manuel Trajtenberg, which were intended to address rising frustrations about the cost of living and income disparity in the Jewish state that triggered mass protests last year.

Continue reading at Agence France-Presse

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