Israel’s defence budget for 2026 has been set at 112 billion shekels ($34.63 billion), the defence minister’s office said on Friday, up from 90 billion shekels budgeted in an earlier draft. Defence Minister Israel Katz and Finance Minister Bezalel Smotrich agreed on the defence spending framework as the cabinet has begun debating next year’s budget, which needs to be approved by March or could lead to new elections. Ministers began what is usually a marathon session on Thursday ahead of a vote that could come early on Friday. If it passes, it heads to parliament for its initial vote.
