Ministry of Finance (MoF)

Israel's Ministry of Finance sets national fiscal policy, drafts the annual state budget, and chairs the Citizens' Fund Council (CIF), which oversees the sovereign wealth fund. The Finance Committee — a Knesset body distinct from the ministry itself but working in close coordination with it — reviews and approves major fiscal allocations, including the defense budget, which by convention is approved through a joint session of the Finance Committee and the Foreign Affairs and Defense Committee rather than the full Knesset plenum.

The Ministry of Finance's positions carry significant weight in Israeli economic policy debates, from aliyah tax-reform design to defense-spending trajectories. Its projections and approvals anchor the state budget process each year, including the record NIS 850.6 billion ($271 billion) 2026 state budget, within which the NIS 143 billion ($45.8 billion) defense allocation sits as the largest single line item.