Defense Minister Israel Katz’s office said in a statement that Israel set the defense budget for 2026 at 112 billion shekels ($34.63 billion or 29.68 billion euros) despite the ceasefire in the Gaza Strip signed on October 10.
This is an increase from the 90 billion shekels budgeted in a previous project.
“Ensuring the security of the State of Israel on all fronts”
“We will continue to work decisively to strengthen the Israel Defense Forces, provide a comprehensive response to the needs of combatants and reduce the burden on reservists to ensure the security of the State of Israel on all fronts,” Katz said.
For its part, the government of Finance Minister Bezalel Smotrich indicated that the defense budget for 2026 saw an increase of 47 billion shekels ($14.553 million or 12.472 million euros) compared to 2023, the year in which the Hamas attacks occurred on October 7 and the subsequent Israeli attack on the Gaza Strip.
“We are allocating a significant budget to strengthen the army this year, but it will also allow us to return the State of Israel to the path of growth and relief for the citizens,” Smotrich said, according to his office.
A costly war against Hamas and Hezbollah: $31 billion in 2024
Katz and Smotrich agreed on the defense spending framework, while the Cabinet began discussing next year’s budget, which must be approved in March or could lead to new elections.
Ministers began what is usually a marathon session the day before, ahead of a vote that may take place that day. If passed, it will head to Parliament for an initial vote.
The Gaza war has been costly for Israel, which spent $31 billion in 2024 on its military conflicts with Hamas and Hezbollah in Lebanon. Israel has since signed ceasefire agreements with the two armed groups.
RML (EFE, Reuters)