Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.

Israeli deputy spending chief resigns ahead of 2024 budget revision

  • By Al Mayadeen English
  • Source: Israeli media
  • 29 Jan 2024 17:03
4 Min Read

The official's resignation comes just days ahead of the scheduled presentation of the 2024 revised budget to the Knesset.

  • x
  • People wave Israeli flags during a protest against humanitarian aid entering Gaza and against the hostages exchange deal with Hamas, in Jerusalem, Israel, Thursday, Jan. 25, 2024 (AP)
    People wave Israeli flags during a protest against humanitarian aid entering Gaza and against the hostages exchange deal with Hamas, in occupied al-Quds, occupied Palestine, Thursday, Jan. 25, 2024 (AP)

Itai Temkin, the deputy budget commissioner of the Israeli Finance Ministry, has announced his resignation from his position, The Times of Israel reported. This development comes just days ahead of the scheduled presentation of the revised budget for 2024 to the Knesset, which incorporates critical adjustments to allocate funds to sustain the ongoing genocidal aggression against Gaza.  

In his role as the deputy head of the budget division for microfinance and budgetary matters, Temkin played a pivotal role in formulating plans for spending changes to suit the aggression waged by the IOF against Gaza. His resignation introduces a notable change in leadership at a critical juncture for financial decision-making in the occupation's regime.

Read more: Israeli war budget falls $20bln short, spurs closure of 10 ministries

Temkin's responsibilities extended beyond the war-related budget adjustments. At the Ministry, he also oversaw the budget department's interactions with global credit rating agencies.

The resignation of Itai Temkin adds an element of uncertainty to the already exacerbated conflict of the Israeli political establishment and raises questions about the sustainability of financial strategies amid ongoing geopolitical challenges. As the revised budget for 2024 awaits Knesset's approval, the occupation's Finance Ministry will need to navigate these changes to ensure effective fiscal management during a critical period.

Israeli fiscal deficit surges to 4.2% of GDP amid heightened war costs 

Earlier this month, the Israeli Ministry of Finance Accountant General revealed that "Israel's" fiscal deficit expanded to 4.2% of the GDP by December 2023, marking a substantial increase from the 2% deficit recorded at the end of September.

Related News

'Israel' moves to expand 2025 budget amid costly wars

'Israel' may have to sell record-amount of bonds to fund Gaza genocide

This surge translates to a significant gap of NIS 77.5 billion ($20,7 billion) between government revenues and expenditures, primarily attributed to heightened spending related to the costs of war.

By the end of November 2023, the deficit stood at 3.4%, amounting to NIS 62.3 billion ($16,6 billion). This increase in the deficit is also due to the cost of war.

A stark contrast emerges when compared to late 2022, where, just days after the current administration assumed office, "Israel" enjoyed a modest fiscal surplus of NIS 10 billion. Within a span of one year, this surplus transformed into a deficit, surging by NIS 10 billion.

The substantial rise in the deficit can be traced back to a dual impact—decreasing revenue and escalating government spending.

Read more: Killing Palestinians costs 'Israel' $220Mln per day: WashPo

"State revenues" experienced a notable decline of NIS 30 billion in the past year, with NIS 24 billion less in tax revenue and an additional NIS 6 billion less in revenue from "National Insurance".

Tax revenues witnessed an 8% decrease, plummeting from NIS 428.9 billion in 2022 to NIS 404.4 billion. The decline in tax collection was initiated in mid-2022, coinciding with an increase in interest rates, and intensified following the onset of the war, as underscored by the Accountant General.

Notably, real estate taxes, encompassing purchase tax and betterment tax, saw a substantial 45% decrease in 2023, totaling NIS 14.4 billion compared to NIS 25.4 billion in 2022.

The latest figures for December reveal that the government's current expenditure reached NIS 33 billion. This sum includes an additional NIS 17 billion earmarked for war-related expenses and an extra NIS 5.7 billion allocated for property tax to address damages incurred during the ongoing war.

Read more: War on Lebanon can be 'lethal' to Israeli economy: Reports

  • Israeli Ministry of Finance
  • Gaza Strip
  • Occupied Palestine
  • Operation Al-Aqsa Flood
  • Palestine
  • Israel
  • Plesetsk
  • ples
  • Gaza
War on Gaza

War on Gaza

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS