Ministry of Finance (Israel)

The Israeli Ministry of Finance (Hebrew: מִשְׂרַד הָאוֹצָר‎, Misrad HaOtzar) is the main economic ministry of the Government of Israel. It is responsible for planning and implementing the Government's overall economic policy, as well as setting targets for fiscal policy, preparing the draft State Budget and monitoring implementation of the approved budget. The ministry also manages state revenues, collects direct and indirect taxes and promotes nonresident investments. In addition, the ministry conducts economic relations with foreign governments, economic organizations and the international community. The ministry regulates the state owned companies sector and the capital market, savings and insurance.[2] The ministry is also responsible for auxiliary units for government ministries in motor vehicles, computer services, printing and government procurement.[3]

Ministry of Finance
Israel
משרד האוצר

Ministry of Finance Headquarters
Agency overview
Formed1948
JurisdictionGovernment of Israel
HeadquartersFinance Ministry Building, Jerusalem
31°46′39.72″N 35°12′9.72″E
Annual budget1.96 billion NIS[1]
Ministers responsible
Agency executive
  • Shai Babad, Director General
Websitemof.gov.il/en

The Finance Ministry is headed by the Finance Minister, currently Israel Katz. There is also occasionally a Deputy Minister of Finance. The permanent staff of the ministry include the Director General, the department directors responsible for the Budget Department, the Accountant General, the Wage and Labor Agreements Department and the accreditation units (the Tax Authority, the Government Companies Authority, the Capital Market, Insurance, and Savings Authority and the Governmental Printer).

Main functions

The units of the Ministry of Finance may be categorized by the three types of service they provide:

  • Government staff services – departments that act on behalf of units and operations of the government: budgeting of government operations (Budget Department), operations of the Accountant General, regulation of the state-owned companies (Government Companies Authority), economic services in the United States, and control and auditing of Finance Ministry operations (Internal Audit Unit).
  • General economic staff services – departments that act in matters pertaining to the economy at large: management of state revenues (State Revenue Administration), and regulation of the capital market, insurance, and savings (Capital Market, Insurance, and Savings Department). The Tax Authority implements the Income Tax and Property Tax ordinances, Customs, and VAT.
  • Auxiliary services for government ministries – motor-vehicle services (Government Vehicle Administration), computer services for the tax departments (Computer Service), printing (the Government Printer, a business enterprise owned by the Ministry of Finance) and Government Procurement Administration.[3]

List of ministers
# Minister Party Government Term start Term end Notes
1Eliezer KaplanMapaiP, 1, 2, 314 May 194825 June 1952Died in office
2Levi EshkolMapai3, 4, 5, 6, 7, 8, 9, 1025 June 195226 June 1963
3Pinchas SapirMapai
Alignment
Labor Party		11, 12, 1326 June 19635 August 1968
4Ze'ev SherfAlignment13, 145 August 196815 December 1969
–Pinchas SapirAlignment15, 1615 December 19693 June 1974
5Yehoshua RabinovitzAlignment173 June 197420 June 1977
6Simha ErlichLikud1820 June 19777 November 1979
7Yigal HurvitzLikud187 November 197913 January 1981
8Yoram AridorLikud18, 19, 2021 January 198115 October 1983
9Yigal Cohen-OrgadLikud2018 October 198313 September 1984
10Yitzhak Moda'iLikud2113 September 198416 April 1986
11Moshe NissimLikud21, 2216 April 198622 December 1988
12Shimon PeresAlignment2322 December 198815 March 1990
13Yitzhak ShamirLikud2315 March 199011 June 1990Serving Prime Minister
–Yitzhak Moda'iNew Liberal Party2411 June 199013 July 1992
14Avraham ShochatLabor Party25, 2613 July 199218 June 1996
15Dan MeridorLikud2718 June 199620 June 1997
16Benjamin NetanyahuLikud2720 June 19979 July 1997Serving Prime Minister
17Yaakov NeemanLikud279 July 199718 December 1998
–Benjamin NetanyahuLikud2718 December 199823 February 1999Serving Prime Minister
18Meir SheetritLikud2723 February 19996 July 1999
–Avraham ShochatOne Israel286 July 19997 March 2001
19Silvan ShalomLikud297 March 200128 February 2003
–Benjamin NetanyahuLikud3028 February 20039 August 2005
20Ehud OlmertLikud
Kadima		309 August 20057 November 2005
21Avraham HirschsonKadima314 May 200622 April 2007
–Ehud OlmertKadima3122 April 20074 July 2007Serving Prime Minister
22Roni Bar-OnKadima314 July 200731 March 2009
23Yuval SteinitzLikud3231 March 200918 March 2013
24Yair LapidYesh Atid3318 March 20132 December 2014
–Benjamin NetanyahuLikud332 December 201414 May 2015Serving Prime Minister
25Moshe KahlonKulanu, Likud3414 May 201517 May 2020
26Israel KatzLikud3517 May 2020

Deputy ministers
# Minister Party Government Term start Term end
1Yitzhak CorenMapai1030 May 196226 June 1963
2Zvi DinsteinAlignment
Labor Party
Alignment		13, 1424 July 196715 December 1969
–Zvi DinsteinAlignment1522 December 196910 March 1974
3Yehezkel FlominLikud1828 June 197730 July 1979
4Haim KaufmanLikud19, 2028 August 198113 September 1984
5Adiel AmoraiAlignment21, 2224 September 198422 December 1988
6Yossi BeilinAlignment2326 December 198811 June 1990
7Yosef AzranShas242 July 199013 July 1992
8Rafael PinhasiShas254 August 199231 December 1992
9David MagenLikud2718 June 199620 May 1997
10Nissim DahanShas285 August 199911 July 2000
11Yitzhak CohenShas292 May 200120 May 2002
–Yitzhak CohenShas293 June 200228 February 2003
–Yitzhak CohenShas321 April 200918 March 2013
12Mickey LevyYesh Atid3318 March 20134 December 2014
–Yitzhak CohenShas34, 3519 May 201514 October 2020

See also

References
  1. State Budget proposal 2013–2014 Archived 2013-10-09 at the Wayback Machine Ministry of Finance, p10
  2. About the Ministry of Finance Archived 2011-03-20 at the Wayback Machine Ministry of Finance
  3. About the Ministry of Finance Archived 2011-03-20 at the Wayback Machine. Ministry of Finance Website.
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