Israeli parliament extends winter session as PM buys time to pass budget

Israeli parliament extends winter session as PM buys time to pass budget
# 04 March 2013 22:47 (UTC +04:00)

Baku-APA. The temporary chairman of the Israeli Knesset (parliament) authorized a motion made by Prime Minister Benjamin Netanyahu to extend its winter session until March 19, APA reports quoting Xinhua.

The motion was made in order to buy time for the Prime Minister and his political allies to draft an amendment to a current basic Knesset Law which allocates a specific time frame for the newly-elected government to pass a new budget.

According to the basic law, the country's 2013 budget must be passed until March 31 or in 45 days since the new government start working.

Netanyahu currently has to form a new government until March 15, after receiving a 14-day extension from President Shimon Peres last Saturday. Once the government enters its role it will have only 45 days to pass a budget for 2013.

Netanyahu hopes that during this winter session he will be able to pass the amendment and buy more time for himself to form a budget. If the new cabinet fails to pass a new budget, the Knesset would be dispersed and new elections would be taken place.

The new budget is set to be controversial since it would include at least 4 billion U.S. dollars cuts in ministries' spending as well as tax hikes to overcome the 10.5 billion dollars deficit in the treasury.

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