Israel announces massive military budget of $34 billion

Members of the Israeli government are discussing the 2026 budget.

Despite the ceasefire in Gaza, Israel has announced a massive defense budget for 2026. According to the announcement, the budget amounts to $34 billion. Al Jazeera reported this information on Friday (December 5).

The Israeli Defense Minister's Office said that Israel's defense budget for next year has been set at 112 billion shekels ($34.7 billion), which was set at 90 billion shekels ($28 billion) in an earlier draft.

The occupation country's Defense Minister Israel Katz and Finance Minister Bezalel Smotrich have supported the defense spending structure. The cabinet is currently debating next year's budget.

The budget must be approved by March next year, otherwise new elections may be held. Katz said, “The military will continue to meet the needs of its fighters and reduce the burden on the reserve forces.”

Israel has significantly increased its military budget compared to previous years. Smotrich’s office said the 2026 defense budget had increased by 47 billion shekels ($14.5 billion) in anticipation of a 2023 war.

Al Jazeera reported that Israel spent $31 billion in 2024 alone on the massacre in Gaza, the war and attacks on Hezbollah in Lebanon.