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==Budget== {{update|section|date=July 2024}} During 1950β66, Israel spent an average of 9% of its GDP on defense. Defence expenditures increased dramatically after both the 1967 and 1973 wars. They reached a high of about 30% of GDP in 1975, but have since come down significantly, following the signing of peace agreements with Jordan and Egypt.<ref>[http://www.cbs.gov.il/publications16/1651/pdf/e_print.pdf ''DEFENCE EXPENDITURE IN ISRAEL 1950β2014 ''] {{Webarchive|url=https://web.archive.org/web/20180521104221/http://www.cbs.gov.il/publications16/1651/pdf/e_print.pdf |date=21 May 2018 }}, Central Bureau of Statistics, August 2016, page 28</ref> In September 2009, Defense Minister Ehud Barak, Finance Minister [[Yuval Steinitz]] and Prime Minister [[Benjamin Netanyahu]] endorsed an additional NIS 1.5 billion for the defense budget to help Israel address problems regarding Iran. The budget changes came two months after Israel had approved its two-year budget. The defence budget in 2009 stood at NIS 48.6 billion and NIS 53.2 billion for 2010 β the highest amount in Israel's history. The figure constituted 6.3% of expected gross domestic product and 15.1% of the overall budget, even before the planned NIS 1.5 billion addition.<ref name="haaretz.com">{{cite news |url=http://www.haaretz.com/print-edition/business/defense-budget-to-grow-education-spending-to-shrink-1.6974 |title=Defense budget to grow, education spending to shrink |work=Haaretz |location=Israel |author=Moti Bassok |date=30 September 2009 |access-date=9 June 2010 |archive-date=8 July 2010 |archive-url=https://web.archive.org/web/20100708200607/http://www.haaretz.com/print-edition/business/defense-budget-to-grow-education-spending-to-shrink-1.6974 |url-status=live }}</ref> In 2011, the prime minister [[Benjamin Netanyahu]] reversed course and moved to make significant cuts in the defence budget to pay for social programs.<ref>[http://www.upi.com/Business_News/Security-Industry/2011/10/10/Israel-Generals-say-defense-cuts-perilous/UPI-60991318262603/ "Israel: Generals say defence cuts perilous."] {{Webarchive|url=https://web.archive.org/web/20111011211115/http://www.upi.com/Business_News/Security-Industry/2011/10/10/Israel-Generals-say-defense-cuts-perilous/UPI-60991318262603/ |date=11 October 2011 }} UPI, 10 October 2011.</ref> The General Staff concluded that the proposed cuts endangered the battle readiness of the armed forces.<ref>Harel, Amos. [http://www.haaretz.com/print-edition/news/idf-battle-readiness-to-suffer-if-budget-cut-senior-officers-warn-1.389238?localLinksEnabled=false "IDF battle readiness to suffer if budget cut, senior officers warn."] {{Webarchive|url=https://web.archive.org/web/20151127081051/http://www.haaretz.com/print-edition/news/idf-battle-readiness-to-suffer-if-budget-cut-senior-officers-warn-1.389238?localLinksEnabled=false |date=27 November 2015 }} ''Haaretz'', 11 October 2011.</ref> In 2012, Israel spent $15.2 billion on its armed forces, one of the highest ratios of defense spending to GDP among developed countries ($1,900 per person). However, Israel's spending per capita is below that of the US.<ref>[[List of countries by military expenditures]]</ref><!-- Wikipedia is not a reliable source -->
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