Israel will boost defence budget by about 6 percent this year 1001122

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Defense News - Israel

 
 
Tuesday, January 10, 2012, 11:05 AM
 
Israel will boost defence budget by about 6 percent this year.

Israel will boost defence spending by about 6 percent this year in the face of deepening regional instability, Prime Minister Benjamin Netanyahu said on Sunday, January 8, 2011, defying calls for cuts as living standards are squeezed.

     
Israel will boost defence spending by about 6 percent this year in the face of deepening regional instability, Prime Minister Benjamin Netanyahu said on Sunday, January 8, 2011, defying calls for cuts as living standards are squeezed.
Israeli Defence forces (IDF) soldiers during combat operation in Gaza.
     

Israel will spend an additional 3 billion shekels ($780 million) on defence this year. The 2012 budget had been projected at around 50 billion shekels, broadly unchanged from last year.

"Given the abundant challenges and threats surrounding us, it would be a mistake, a big mistake even, to cut the defence budget," Netanyahu told reporters.

Israel faces a strategic map that has been radically redrawn in the past 12 months.

It looks likely to lose regional alliances with Turkey and Egypt and faces a possible entente between the two main Palestinian factions, an uprising in neighbouring Syria and growing fears over Iran's nuclear programme.

Netanyahu said some of the money would come from trimming other government departments but savings from within the military would also play a part.

It will sell assets such army bases, prime real estate in some cases, and he also promised a more efficient use of the budget, to which the United States contributes $3 billion every year.