Lates News

Israeli senior government officials have stated that Israel plans to sell a portion of its largest weapons manufacturer to increase revenue and offset the sharp increase in defense spending over the past two years due to conflicts. Yali Rosenberg, the Chief Accountant of the Ministry of Finance, stated that the privatization of Israel Aerospace Industries (which produces the Arrow air defense system, missiles, and drones) has already begun. Israel is also studying the possibility of privatizing the Rafael Advanced Defense Systems company, which produces Israel's "Iron Dome" and "David's Sling" air defense systems. Rosenberg stated that, in light of the need for more resources in defense, the government is considering partially privatizing certain defense-related assets. (Financial Times)