JERUSALEM, March 30 (Xinhua) -- The Israeli parliament, the Knesset, approved the 2026 state budget on Monday in its final reading, averting a government collapse and an early election, according to local media.
The spending bill, totaling 850.6 billion shekels (about 271 billion U.S. dollars), passed by a vote of 62 to 55, as the largest in Israel's history. The defense ministry alone will receive more than 142 billion shekels (around 45 billion dollars), also a record allocation.
Under Israeli law, failing to pass the budget by March 31 triggers an automatic government collapse and forces a snap election within roughly 90 days.
Israeli legislative elections are currently slated for October. ■
