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Ministry of Finance (Israel)

Coordinates: 31°46′39.72″N 35°12′9.72″E / 31.7777000°N 35.2027000°E / 31.7777000; 35.2027000
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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 / 31.7777000°N 35.2027000°E / 31.7777000; 35.2027000
Annual budget1.96 billion NIS[1]
Minister responsible
Agency executive
Websitemof.gov.il/en

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]

The Finance Ministry is headed by the Finance Minister, currently Bezalel Smotrich. 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

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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

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# Minister Party Government Term start Term end Notes
1 Eliezer Kaplan Mapai P, 1, 2, 3 14 May 1948 25 June 1952
2 Levi Eshkol Mapai 3, 4, 5, 6, 7, 8, 9, 10 25 June 1952 26 June 1963
3 Pinchas Sapir Mapai
Alignment
Labor Party		 11, 12, 13 26 June 1963 5 August 1968
4 Ze'ev Sherf Alignment 13, 14 5 August 1968 15 December 1969
– Pinchas Sapir Alignment 15, 16 15 December 1969 3 June 1974
5 Yehoshua Rabinovitz Alignment 17 3 June 1974 20 June 1977
6 Simha Erlich Likud 18 20 June 1977 7 November 1979
7 Yigal Hurvitz Likud 18 7 November 1979 13 January 1981
8 Yoram Aridor Likud 18, 19, 20 21 January 1981 15 October 1983
9 Yigal Cohen-Orgad Likud 20 18 October 1983 13 September 1984
10 Yitzhak Moda'i Likud 21 13 September 1984 16 April 1986
11 Moshe Nissim Likud 21, 22 16 April 1986 22 December 1988
12 Shimon Peres Alignment 23 22 December 1988 15 March 1990
13 Yitzhak Shamir Likud 23 15 March 1990 11 June 1990 Serving Prime Minister
– Yitzhak Moda'i New Liberal Party 24 11 June 1990 13 July 1992
14 Avraham Shochat Labor Party 25, 26 13 July 1992 18 June 1996
15 Dan Meridor Likud 27 18 June 1996 20 June 1997
16 Benjamin Netanyahu Likud 27 20 June 1997 9 July 1997 Serving Prime Minister
17 Yaakov Neeman Likud 27 9 July 1997 18 December 1998
– Benjamin Netanyahu Likud 27 18 December 1998 23 February 1999 Serving Prime Minister
18 Meir Sheetrit Likud 27 23 February 1999 6 July 1999
– Avraham Shochat One Israel 28 6 July 1999 7 March 2001
19 Silvan Shalom Likud 29 7 March 2001 28 February 2003
– Benjamin Netanyahu Likud 30 28 February 2003 9 August 2005
20 Ehud Olmert Likud
Kadima		 30 9 August 2005 7 November 2005
21 Avraham Hirschson Kadima 31 4 May 2006 22 April 2007
– Ehud Olmert Kadima 31 22 April 2007 4 July 2007 Serving Prime Minister
22 Roni Bar-On Kadima 31 4 July 2007 31 March 2009
23 Yuval Steinitz Likud 32 31 March 2009 18 March 2013
24 Yair Lapid Yesh Atid 33 18 March 2013 2 December 2014
– Benjamin Netanyahu Likud 33 2 December 2014 14 May 2015 Serving Prime Minister
25 Moshe Kahlon Kulanu, Likud 34 14 May 2015 17 May 2020
26 Israel Katz Likud 35 17 May 2020 13 June 2021
27 Avigdor Lieberman Yisrael Beiteinu 36 13 June 2021 29 December 2022
28 Bezalel Smotrich Religious Zionist 37 29 December 2022

Deputy ministers

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# Minister Party Government Term start Term end
1 Yitzhak Coren Mapai 10 30 May 1962 26 June 1963
2 Zvi Dinstein Alignment
Labor Party
Alignment		 13, 14 24 July 1967 15 December 1969
– Zvi Dinstein Alignment 15 22 December 1969 10 March 1974
3 Yehezkel Flomin Likud 18 28 June 1977 30 July 1979
4 Haim Kaufman Likud 19, 20 28 August 1981 13 September 1984
5 Adiel Amorai Alignment 21, 22 24 September 1984 22 December 1988
6 Yossi Beilin Alignment 23 26 December 1988 11 June 1990
7 Yosef Azran Shas 24 2 July 1990 13 July 1992
8 Rafael Pinhasi Shas 25 4 August 1992 31 December 1992
9 David Magen Likud 27 18 June 1996 20 May 1997
10 Nissim Dahan Shas 28 5 August 1999 11 July 2000
11 Yitzhak Cohen Shas 29 2 May 2001 20 May 2002
– Yitzhak Cohen Shas 29 3 June 2002 28 February 2003
– Yitzhak Cohen Shas 32 1 April 2009 18 March 2013
12 Mickey Levy Yesh Atid 33 18 March 2013 4 December 2014
– Yitzhak Cohen Shas 34, 35 19 May 2015 14 October 2020

See also

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References

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  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. ^ a b About the Ministry of Finance Archived 2011-03-20 at the Wayback Machine. Ministry of Finance Website.
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