Israel Significantly Boosts Military Budget After War with Iran; Accelerates Weapons Procurement
The israeli ministries of Defense and finance have revealed plans to substantially raise Tel Aviv’s defense budget amid escalating security challenges following the recent 12-day war with Iran and the ongoing conflict in gaza, according to webangah News Agency.
According to their joint statement, Israel’s defense budget for this year and 2026 will increase by 42 billion shekels (approximately $12.5 billion).
The statement emphasized that this funding agreement will enable the ministry of Defense to swiftly proceed with “urgent and essential procurement deals considered vital for Israel’s security.”
This budget increase comes as Israel remains engaged on multiple regional fronts, including its current military operations against Hamas in Gaza, Hezbollah in southern Lebanon, and last month’s attacks on Iranian targets.
Bloomberg reports that Israel has also intensified airstrikes inside Syria, targeting locations near the presidential palace and defense ministry in Damascus. Additionally, air operations against Houthi (Ansarullah) positions in Yemen are reportedly planned by Tel Aviv.
As part of this decision, the Defense Ministry announced a large-scale purchase agreement for Arrow missiles. Each missile is estimated to cost between $2 million and $3 million. These missiles have been extensively used to intercept about 500 ballistic rockets launched from iran into Israeli territory.
The statement did not provide further details on how this increased budget will be allocated between this year and next.
Bloomberg adds that the recent 12-day war with iran severely disrupted Israel’s economy, causing billions of dollars in damage to infrastructure including oil refineries.
