Israel sets aside 9 billion for IDF reservists in 2024 war budget

Israel is set to approve a wartime budget for 2024 later this week after announcing on Sunday an agreement to set aside NIS 9 billion for financial support for IDF reservists, the Prime Minister's Office said.

As part of the agreement reached between Prime Minister Benjamin Netanyahu, Finance Minister Bezalel Smotrich, and Defense Minister Yoav Gallant, one and a half billion shekels will be allocated for across-the-board grants, including grants of up to NIS 3,900 for reservists with families who served in November and December of last year.

In addition, grants will also be given to reservists who are parents of special-needs children and further compensation will be given to soldiers, who will be given an additional minimum of NIS 300 per day.

Furthermore, the Israeli cabinet agreed on an additional NIS 200 million, to be handed out to self-employed reservists in what the Prime Minister's Office called the 'Red Path' to war compensation.

Netanyahu: IDF reservists to receive money without delay

"The reservists will receive the money without delay. They are true heroes," Netanyahu was quoted as saying in the announcement. "They left their homes to defend our home.

"The plan includes grants, discounts, and benefits for reservists and their families – for partners and also for children, and self-employed reservists. I say this because they need to receive this support," the prime minister added.

Israel last year approved a two-year budget for 2023 and 2024, but the war against Hamas in Gaza has shaken government finances, requiring budget changes and additional spending.

In December, the Knesset approved a special war budget for 2023 of nearly 30 billion shekels to help fund the war and compensate those impacted by Hamas's October 7 attacks that sparked the war.

Smotrich's spokesman clarified that the budget vote would likely take place on Thursday but offered no further details.

Reuters contributed to this report.