Israel approves 2026 budget: Largest in the state's history

ALBAWABA - The Knesset recently approved Israel's 2026 budget, granting Netanyahu's office the right to head to early elections and avoiding the Israeli government's collapse, according to Reuters, citing a Knesset spokesperson.

This comes as Israel faces a joint war with the US against Iran and Lebanon's Hezbollah. The approved budget was dubbed the largest in Israel's history. 

Israel approves 2026 budget: Largest in the state's history

🇮🇱 The Knesset just suspended the government budget session, and lawmakers rushed straight to the shelter after Iran’s missile attack.

Even Israel’s parliament is taking cover right now.pic.twitter.com/y7uDCA93Ye https://t.co/pChbzAB7g9

— Mario Nawfal (@MarioNawfal) March 29, 2026

According to The Times of Israel, the Defense Ministry’s budget will be NIS 142 billion ($45.3 billion), NIS 22 billion ($7 billion) in income-dependent expenditure, and NIS 82.2 billion ($26.3 billion) for long-term commitments. The budget, NIS 850.6 billion ($271 billion) in the spending bill, was approved by lawmakers with a vote of 62-55.

The meeting was interrupted on several occasions after clashes between government officials and the sounding of sirens due to the ongoing US-Israeli war with Iran. Additionally, elections are set to take effect in October this year.

Reuters reported that failure to reach a vote could have caused the collapse of Prime Minister Netanyahu's office, and a snap election in the coming 90 days.