The Knesset has given final approval to bill which pertains to the aid plan that was introduced in order to maintain the stability of the economy in light of the corona crisis.

The bill passed it third and final reading by a vote of 63-0, with one abstention. Because the legislation in question seeks to amend a basic law, it required the support of at least 61 MKs.

The bill is an amendment to a law that was passed in the Knesset Plenum on April 7, 2020, which determines, among other things, an economic plan that includes a package of measures to maintain the stability of the economy in light of the corona crisis.

The bill was introduced due to the fact that the plan was prepared under conditions of uncertainty with regards to the restrictions imposed in order to reduce the transmission of the coronavirus, as well as to its economic effects, and the spread of the virus across the world.

For this purpose, the amendment calls to increase the fixed sums of money, as determined in the temporary order, by NIS 14 billion ($4 Billion), and to correct the distribution of the money between the various components, in order to allow the spending of funds in areas that were not addressed within the temporary order, as well as for economic acceleration and assistance to additional populations.