The Hill News

The decision to hold and then cancel the early elections in Israel last week led to a particularly tumultuous 48-hour period â€" even by Israeli political standards. Lost amidst all the analyses as to whom benefits most, was a lower-profile agenda item now at risk, which may have more impact on the future of Israel’s political stability than the elections themselves: the two-year budget.

As anyone who has worked in the financial arm of a corporate entity â€" and certainly a government body â€" can attest, the annual budget process can range from laughable to painful. For legacy reasons, institutions that need to take longer-term views tend to focus on the upcoming 365 days â€" primarily because that is how annual budgets are thought about. While there are certain measurements that come with divine inspiration -- seven days in a week, 24 hours in a day, or 90 feet between bases -- others, like annual budgets, are borne of habit and need to be rethought of in ! a fundamental way.

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