Israel increases military budget

The Israeli government on Thursday voted to an increase of $738 million in the military budget, official statements said.

The rise came less than six months after the cabinet approved a 3.0 billion shekel cut as part of the overall 2014 austerity budget, which Finance Minister Yair Lapid said was essential for Israel's economic health.

A government statement Thursday evening, after a meeting of the ministerial committee on security, said there were now "surplus budget funds" from which the money could be found.

It was less than the 4 billion shekel raise which the military had sought, but more than Lapid had been willing to endorse.