Peace be within your walls and security within your towers. (Psalm 122:7)
Israel’s defense budget will be gradually increased to 6% of Gross Domestic Product (GDP) over the coming years, Prime Minister Benjamin Netanyahu announced Wednesday as he presented a document labeled “Israel’s Security Outlook 2030” to the Security Cabinet.
Netanyahu outlined the anticipated threats for the coming decade and presented the need for building of the necessary force and the principles for operation of the force.
The document’s full details is classified and will soon be presented in full by the prime minister to the Knesset Subcommittee on Intelligence Affairs and Secret Services, the IDF General Staff Forum, the Mossad and the Israel Security Agency (Shin Bet).
The increase in the defense budget will total sum 0.2% to 0.3% of GDP, translating at some NIS 2-4 billion per year. Netanyahu said the defense budget would be re-examined once Israel’s GDP hit $500 billion. Israel’s GDP currently stands at some $350 billion. It marks a recent reversal of policy, where the defense budget has made up a smaller proportion of GNP.
“Due to our small area, the population concentration and the numerous threats around us, Israel will always have security needs that are much greater than any other state of similar size,” said Netanyahu. “Today the Israeli economy is strong enough to allow for this supplement. In any case the increase will be enacted while maintaining a responsible budgetary framework.
In the last 20 years we have cultivated a free economy in order to serve national needs, especially security. Against the accumulated threats we are at a turning point. Today we are called upon to invest more in security in order to defend our achievements and ensure continued economic growth.”