The Israeli government is planning an immediate 2 percent retroactive cut to its 2014 budget to help cover the estimated US $2.5 billion cost of a summer of war.

Under the Aug. 31 Cabinet-approved plan, across-the-board cuts will apply to all ministries except MoD to underwrite unplanned costs of a two-week ground operation in the West Bank that was followed by a 50-day war in Gaza.

“The defense establishment underwent 74 days of high-intensity operations, starting with the operation to return the three youths captured and murdered in Gush Etzion [part of the West Bank] up until the [Aug. 26] ceasefire of Protective Edge,” said Defense Minister Moshe Ya’alon. […]