Israel's Massive Defense Budget: A Strategic Investment

Israel announces a massive defense budget increase to fund the air war with Iran. Prime Minister Netanyahu and Finance Minister Smotrich emphasize the economic resilience amidst ongoing conflicts.

Israel is set to allocate an extraordinary budget amounting to tens of billions of shekels designated for increased defense spending. This move comes as part of efforts to finance the ongoing air war with Iran, according to a joint statement released by Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich on Tuesday.

Finance Minister Smotrich highlighted that the cabinet convened on Tuesday night to approve this special war budget. Emphasizing the importance of the allocation, he stated that it represents an 'investment' rather than an expense.

Prime Minister Netanyahu noted that despite facing over two years of wars, Israel's economy has demonstrated remarkable strength and resilience, affirming the nation's capability to sustain such financial commitments.

(With inputs from agencies.)