PM Netanyahu's Remarks at the Start of Today's Cabinet Meeting
Photo by GPO 

Prime Minister Benjamin Netanyahu this morning made the following remarks at the start of the Cabinet meeting:
"The Cabinet is meeting today in its new composition. I welcome the new ministers who have joined, some in ceremonies, but of course they will immediately take up a full workload. Today’s meeting is to receive an update from the Finance Ministry on the numerator and budgetary needs ahead of the 2017-2018 budget.
I would like to clarify that the numerator law is revolutionary vis-à-vis administration of the Israeli economy. Previously, governments would have to commit in advance and get themselves into very deep budgetary holes, which always required cuts and more cuts and more cuts. Since using the numerator, we have reduced the budgetary hole. We will receive reports on this today, but beyond this it will also help us prepare for a future situation that within two years, the State of Israel will not have budgets that require cuts by definition. This is a revolutionary change. This is correct administration of the economy. This is responsible administration of the economy.
I welcome the cooperation with the Finance Minister; we enacted this change together, and today we will accept the report, as required by law, on our budgetary situation and our future commitments."