Israel's cabinet passes first state budget in three years

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Israel's new government approved the 2021-2022 state budget on Monday, after a meeting that lasted almost 24 hours.

Why it matters: Previous governments couldn't pass a budget amid the political crisis that engulfed Israel over the past three years — preventing many government reforms from moving forward.

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The big picture: This is a big achievement for Prime Minister Naftali Bennett and his coalition partners.

  • Passing the budget will significantly stabilize the new fragile government and will increase its survival chances for at least another 18 months.

What's next: The budget was approved by the government but still needs to pass a vote in the Knesset by the November 5th deadline.

  • The budget will now move to negotiations in the Knesset committees.

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