Knesset committee seeks new oversights for non-approved budgets

The Knesset Finance Committee on Tuesday said new legislation was needed to give elected officials ways to oversee automatic budgets, the budgets on which the government runs when it fails to approve a new budget.

In both 2012 and 2014, the Knesset failed to approve a budget for the following year, triggering new elections. Until new government were installed and another budget passed, the government ran on an automatic month-to-month budget set at 1/12 the last approved budget, with adjustments for inflation. Those tight, monthly budgets are managed by the Finance Ministry’s Accountant General. The 2013 budget operated that way for 7 months. In 2015, the government was on autopilot for 11 months.

Source: http://www.jpost.com/Israel-News/Committee-seeks-new-oversights-for-non-approved-budgets-445855

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