חוק־יסוד: משק המדינה (תיקון מס' 10 והוראת שעה לשנת 2020) (תיקון מס' 3)Basic Law: State Economy (Amendment No. 10 and temporary provision for 2020) (Amendment No. 3) · automatic translation · suggest a correction

Official summary of the law (Knesset)

Section 3B of the Basic Law: The State Economy deals with a situation in which the Budget Law has not been adopted before the beginning of the fiscal year, and determines that in such a situation the Government may spend each month a sum equal to one-twelfth of the previous annual budget, plus linkage to the consumer price index. The section also determines the order of priorities in the use of the continuation budget. Following the outbreak of the coronavirus and the need to curb its spread, various restrictions were imposed on the economy and the public. These restrictions led to a deep economic crisis. In light of the severe health and economic crisis, extensive assistance to the economy was required. Since the Basic Law limits the ability to spend funds in a situation where there is no approved budget, the Basic Law: The State Economy (Amendment No. 10 and Temporary Provision for 2020) was enacted, determining that until the end of 2020 or the date of adoption of the Budget Law, whichever is earlier, government expenditure could be increased to deal with the coronavirus crisis, in accordance with an economic plan. In the Basic Law: The State Economy (Amendment No. 10 and Temporary Provision 2020) (Amendment), a further increase in government expenditure was approved, such that in 2020 expenditure amounts were increased by approximately 14 billion NIS. In light of the rise in infection rates and the prolongation of the crisis, in the Basic Law: The State Economy (Amendment No. 10 and Temporary Provision 2020) (Amendment No. 2), the amounts set in the temporary provision were increased by approximately 25.1 billion NIS. In order to finance the plan for paying one-time grants for additional economic support, anchored in the Economic Assistance Plan Bill (Novel Coronavirus – One-Time Grant) (Temporary Provision), 2020, the temporary provision was amended again so that an additional sum of 6.7 billion NIS could be spent in 2020, until the adoption of the Budget Law for that year.

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