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Israels cabinet on Sunday unanimously approved a plan that would lead to parliamentary passage of state budgets for both 2009 and 2010 within the next 106 days. Lawmakers will begin debate on the budget on Monday, the Finance Ministry said in a statement.
It said the dual-year budgets final versions will be given to parliament by June 16 for passage by July 15. Parliament failed to pass the 2009 budget due to a corruption scandal by former Prime Minister Ehud Olmert that led to a new election in February.
The new government led by Benjamin Netanyahu took over last week. As part of the coalition agreement, parliament must approve a multi-year budget.
With no budget, Israel has been using a pro-rated version of the 2008 budget. As a result, fiscal measures to help Israels economy - which is believed to be in a recession - have been limited.

Copyright Reuters, 2009

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