Israel on Wednesday approved a defense budget for 2022 totaling some NIS 58 billion, which reportedly includes NIS 7 billion for a potential attack on Iran as it strives for nuclear capabilities.
Prime Minister Naftali Bennett, Finance Minister Avigdor Liberman, and Defense Minister Benny Gantz finalized the agreement during a meeting on a night between Tuesday and Wednesday.
Due to the political stalemate and multiple elections of recent years, the Defense Ministry did not receive an updated budget for 2020 and 2021 and was operating on one from 2019 that totaled NIS 55.3 billion.
According to the latest agreement, a large part of the budget will be spent on acquiring weapons and military equipment from companies operating domestically - in accordance with threats Israel faces.
However, a recent report suggested that Israel would request advanced technology in the wake of a potential United States return to the 2015 Iran nuclear deal.
At least NIS 750 million ($231 million) will be allocated to the Home Front Command.
Some money will also go towards the overhaul of mental health services in the army, as well as toward the "From Uniform to Studies" scholarship program that helps pay college or university tuitions of discharged combat soldiers.
"The prime minister, finance minister and defense minister welcome the agreement and call on all ministers and ministries to reach an understanding as soon as possible in order to approve the state budget in an orderly manner in the government and Knesset," read a statement from Bennett's office.