Israeli PM is hoping the austerity measures will plug a $6.9 billion hole in the public finances
Israeli Prime Minister Benjamin Netanyahu attends the weekly cabinet meeting in Jerusalem. Ministers in Israel's cabinet are preparing to vote on a package of sweeping economic austerity measures in a bid to cut the budget deficit, in a move expected to hit the underprivileged hard. © Sebastian Scheiner - AFP/File
Israeli PM is hoping the austerity measures will plug a $6.9 billion hole in the public finances
AFP
Last updated: July 30, 2012

Israel to vote on sweeping austerity measures

Israel's government on Monday approved a package of sweeping austerity budget measures it said were essential to cut the deficit and buffer Israel from crises which have rocked many other economies.

"The cabinet a short time ago approved the measures for reducing the deficit and dealing with the effects of the global economic crisis on the Israeli economy," a statement from Prime Minister Benjamin Netanyahu's office said after more than seven hours of debate.

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