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Israel approves state budget for 2015-2016

Xinhua, August 6, 2015 Adjust font size:

Israel's government approved on Thursday a draft of the state budget for 2015-2016, following an all-night marathon session.

Twenty ministers voted in favor of endorsing the budget, while one minister abstained. The vote means the budget will be brought for the Knesset (parliament) approval on Aug. 31.

The financial plan stipulates a 7.2 percent growth in the state budget between 2014 and 2016, setting the budget for 2015 at 87.5 billion U.S. dollars, and at 90.7 billion dollars for 2016.

The budget of the Ministry of Education will be increased by 1.3 billion dollars to allow several reforms, including lowering the number of pupils in high school classrooms from 34 to 32.

The move followed a nation-wide protest by pupils and their parents against overcrowding in classrooms, which was known as the "sardines protest."

Defense Minister Moshe Ya'alon was the only minister to abstain the vote, as the budget proposal indicates an increase of one-billion-dollar to next year's budget with massive cuts to pensions of retired soldiers.

Israeli Prime Minister Benjamin Netanyahu said in a statement that "the budget is balanced, responsible, and cares for growth." "It takes care of steps that will lower the cost of living," he added.

Finance Minister Moshe Kahlon also lauded the budget, saying that "we're pushing forward great reforms in order to generate significant growth." Endit