Israel Boosts Defense Spending Amid Ongoing War with Iran

Israel’s Knesset has passed its 2026 budget, which includes a record $44.8 billion for defense. The budget reflects the country’s ongoing war with Iran, which began on February 28, and includes funding for rehabilitation and support for wounded soldiers. The Israeli Ministry of Defense has also been investing in local defense industries and procurement, including a deal with Elbit Systems for $48 million worth of 155mm artillery shells. The budget was approved by the Joint Committee of the Finance Committee and the Foreign Affairs and Defense Committee, and reflects increased investment for Operation Roaring Lion, the Israeli strikes on Iran.