חוק הפחתת הגירעון והגבלת ההוצאה התקציבית (תיקון מס' 20), התש"ף-2020Law on Deficit Reduction and Limitation of Budget Expenditure (Amendment No. 20), 2020 · automatic translation · suggest a correction

Official summary of the law (Knesset)

Due to the lack of approval of the 2020 Budget Law, the Government acted in accordance with Section 3B of Basic Law: The State Economy, which establishes that as long as the Budget Law has not been adopted, the Government may spend each month an amount equal to one-twelfth of the previous annual budget, plus linkage to the consumer price index. Accordingly, the spending limit for 2020 was increased in Basic Law: The State Economy (Amendment No. 10 and Temporary Provision for 2020); since then, Basic Law: The State Economy has been amended 5 times, with amounts added in accordance with plans to deal with the coronavirus crisis. This amendment completes the amendment in Basic Law: The State Economy (Amendment No. 10 and Temporary Provision for 2020) (Amendment No. 5), and increases the rate of the budgetary expenditure limit for 2020 and 2021, so that the government expenditure limit for 2020 will not exceed a total of 20.95% relative to the amount of government expenditure in the 2019 budget year, and the government expenditure limit for 2021 will not exceed a total of 10.75% relative to the amount of government expenditure in the 2020 budget year. In order to deal with the coronavirus crisis, and for this purpose only, the Government should be allowed, in 2021, to increase the overall deficit rate as a share of GDP by an additional rate of up to 0.06%, and in 2022 to increase this rate by an additional rate of up to 0.08%.

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