Bank of Israel says proposed wartime budget changes fall short

The Bank of Israel on Wednesday said that proposed amendments to the state budget were insufficient and that the government needed to show more fiscal responsibility.

The central bank statement came after Prime Minister Benjamin Netanyahu late on Tuesday gave initial approval to changes in the budget meant to help cover the impact of the war in Gaza.

Among its concerns, the central bank said proposed budget cuts are limited and that the government needed to further curb new continuous expenditures unrelated to the war.