Ultra-Orthodox Jewish parties did well in Israel's national election and wi...
JERUSALEM - Ultra-Orthodox Jewish parties did well in Israel’s national election and will likely bring hefty demands for more government payouts to coalition talks, making it harder for Prime Minister Benjamin Netanyahu to rein in a growing budget deficit.
Ultra-Orthodox Jews, known as Haredim, make up about 10 percent of Israel’s population and, with their typically large families, that percentage is expected to swell. The two parties, United Torah Judaism and Shas, pledge to try to keep or even build on the status quo, disregarding warnings from Israel’s central bank and groups like the International Monetary Fund of a future crisis without change.
Israel’s budget deficit is rising, forecast to reach nearly 4 percent of gross domestic product this year - well above the 2.9 percent target. Although ratings agencies Fitch and S&P said Israel was not at risk of a downgrade in the near term, austerity measures seem unavoidable.
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