Prime Minister Binyamin Netanyahu and Finance Minister Yair Lapid have reportedly resolved their differences over the 2015 state budget.

The target deficit will be raised from 2.5 percent to 3.4 percent and the defense budget will be increased by NIS 6 billion, according to the report by The Marker.

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There will be a zero percent VAT (value added tax / sales tax) and no increase in taxes.

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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for Babble.com, Chabad.org and other media outlets, in addition to her years working in broadcast journalism.