Ministry of Finance (Israel)

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Ministry of Finance
משרד האוצר
Israel Ministry of Finance.jpg
Ministry of Finance Headquarters
Agency overview
Formed 1948
Jurisdiction Government of Israel
Headquarters Finance Ministry Building, Jerusalem
31°46′39.72″N 35°12′9.72″E / 31.7777000°N 35.2027000°E / 31.7777000; 35.2027000Coordinates: 31°46′39.72″N 35°12′9.72″E / 31.7777000°N 35.2027000°E / 31.7777000; 35.2027000
Annual budget 1.95 billion NIS[1]
Ministers responsible Nimrod Sapir,
Minister of Finance
Deputy Minister of Finance

The Israeli Ministry of Finance (Hebrew: מִשְׂרַד הַאוֹצָר, Misrad HaOtzar) is a part of the Israeli political system. It is responsible for planning and implementing the Government of Israel’s overall economic policy.

The Ministry prepares the draft State Budget and monitors implementation of the approved budget, manages state revenues and collects direct and indirect taxes, manages the deficit and conducts the Government’s economic relations with foreign governments, regulates the capital market, savings and insurance and maintains auxiliary units for government ministries in motor vehicles, computer services, printing and government procurement.[2]

Acting Finance Minister is Nimrod Sapir.

Main functions[edit]

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, 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.[2]

Departments and structure[edit]

Structure of the Israeli Ministry of Finance
Budget Department
The Budget Department (Hebrew: אגף התקציבים‎, Agaf HaTaktzivim) administers public expenditure and has three main roles:
  1. Act as a central government unit for planning and budgeting.
  2. Act as a consulting unit of the Ministry of Finance and the government for general aspects of its decision-making process.
  3. Elaborate macro-economic policy.
Capital Market, Insurance, and Savings Department
The Capital Market, Insurance, and Savings Department supervises insurance and long-term savings market in Israel and is tasked with settling a suitable insurance policy. Among other duties, the department grants licenses and monitors the stability of insurance firms, pension funds, and insurance policies.
Israel Tax Authority
The Israel Tax Authority is composed of Income Tax, Land Tax, Customs and VAT authorities, and the Mechanized Processing Service. The Tax Authority is responsible for both direct and indirect tax systems, tax monitoring and public service improvement.
International Affairs Department
The International Affairs Department manages the Finance Ministry's contacts with foreign governments, economic organizations and the international community, in collaboration with the Ministry of Foreign Affairs and other economic offices.
In addition, the department is responsible for publishing English press releases, presentations, documents, instant messages and other data for the Israeli Ministry of Finance's English readers.
Debt management Unit
The Government Debt Management Unit (GDMU), is in charge of managing Israel's domestic and external debt and the development and implementation of an overall debt management strategy. The unit is responsible for issuing tradable government bonds in Israel's domestic market and raising capital in international markets; promoting reforms in the Israeli capital market; studying and monitoring global capital markets; providing information to the international rating agencies; cooperating with the Israel Bonds Organization; and managing other countries' debts to Israel through the "Paris Club"
Economics and Research Department
The Economics and Research Department collects and analyzes information on economic developments in Israel and abroad and evaluates future developments of the Israeli market. The department's data is used in the formulation of economic policy.
Accountant General
The Accountant General's Department implements the state budget, manages state assets, funds the deficit and supervises government debt. In addition, the Accountant General also administers the government vehicle administration, supervises all of the government information and computer systems, and is also responsible for central government procurement.
Wage and Labor Agreements Department
The Wage and Labor Agreements Department is responsible for setting and implementing wage policy in the public sector, negotiating on behalf of the government and the public sector with the market, inspection and revision of public administration, and advising the government and the parliament (Knesset) on related issues.
Government Companies Authority
The GCA is a professional unit of the Ministry of Finance, which carries out the role of the government as a shareholder in all government companies, which includes privatizations and managing structural changes. The GCA is responsible for the activity of approximately 100 companies, which include commercial and non commercial companies, government subsidiaries and mixed companies.
State Revenue Division
State Revenue is an auxiliary division which determines the government's tax policy and tax reforms. The division prepares yearly revenue forecasts for the state's budget, analyzes tax collection data, and studies the implications of various laws and regulations. The division also manages international taxation issues and double-taxation avoidance treaties. The State Revenue Division produces a comprehensive yearly report, runs the tax museum and publishes the Israeli Quarter for Taxes.
Spokesperson's Office
The Spokesperson is responsible for the official communications and public relations of the Ministry. Its website contains all Hebrew press releases, presentations, and documents since 1998.
Holocaust Survivors Rights Authority
The Holocaust Survivors Rights Authority (Hebrew: הרשות לזכויות ניצולי השואה‎, HaReshut LiZkhuyot Nitzolei HaSho'a) is in charge of implementing the laws regarding holocaust survivors, granting monthly payments, medical treatments, rehabilitation and welfare services.
Governmental Printer
The Governmental Printer (Hebrew: המדפיס הממשלתי‎, HaMadpis HaMemshalti) is a service unit which provides printing services to governmental institutions. The governmental printer is also in charge for the printing of identity cards and passports, national final exams for schools, stamps, governmental reports, state laws, etc.


List of ministers[edit]

# Minister Party Term of office Govt. (P.M.) Notes
1 Eliezer Kaplan Mapai 14 May 1948 25 June 1952 P·1·2·3 (Ben-Gurion) Died in office
2 Levi Eshkol Mapai 25 June 1952 26 June 1963 3·4 (Ben-Gurion)
5·6 (Sharett)
7·8·9·10 (Ben-Gurion)
3 Pinchas Sapir Mapai, Alignment 26 June 1963 5 August 1968 11·12·13 (Eshkol)
4 Ze'ev Sherf Alignment 5 August 1968 15 December 1969 13 (Eshkol)
14 (Meir)
Pinchas Sapir Alignment 15 December 1969 3 June 1974 15·16 (Meir)
5 Yehoshua Rabinovitz Alignment 3 June 1974 20 June 1977 17 (Rabin)
6 Simha Erlich Likud 20 June 1977 7 November 1979 18 (Begin)
7 Yigal Hurvitz Likud 7 November 1979 13 January 1981
8 Yoram Aridor Likud 21 January 1981 15 October 1983 18·19 (Begin)
9 Yigal Cohen-Orgad Likud 18 October 1983 13 September 1984 20 (Shamir)
10 Yitzhak Moda'i Likud 13 September 1984 16 April 1986 21 (Peres)
11 Moshe Nissim Likud 16 April 1986 22 December 1988 21·22 (Shamir)
12 Shimon Peres Alignment 22 December 1988 15 March 1990 23 (Shamir)
13 Yitzhak Shamir Likud 15 March 1990 11 June 1990 Serving Prime Minister
Yitzhak Moda'i New Liberal Party 11 June 1990 13 July 1992 24 (Shamir)
14 Avraham Shochat Labor Party 13 July 1992 18 June 1996 25 (Rabin)
26 (Peres)
15 Dan Meridor Likud 18 June 1996 20 June 1997 27 (Netanyahu)
16 Benjamin Netanyahu Likud 20 June 1997 9 July 1997 Serving Prime Minister
17 Yaakov Neeman Likud 9 July 1997 18 December 1998
Benjamin Netanyahu Likud 18 December 1998 23 February 1999 Serving Prime Minister
18 Meir Sheetrit Likud 23 February 1999 6 July 1999
Avraham Shochat One Israel 6 July 1999 7 March 2001 28 (Barak)
19 Silvan Shalom Likud 7 March 2001 28 February 2003 29 (Sharon)
Benjamin Netanyahu Likud 28 February 2003 9 August 2005 30 (Sharon)
20 Ehud Olmert Likud, Kadima 9 August 2005 7 November 2005
21 Avraham Hirschson Kadima 4 May 2006 22 April 2007 31 (Olmert)
Ehud Olmert Kadima 22 April 2007 4 July 2007 Serving Prime Minister
22 Roni Bar-On Kadima 4 July 2007 31 March 2009
23 Yuval Steinitz Likud 31 March 2009 18 March 2013 32 (Netanyahu)
24 Yair Lapid Yesh Atid 18 March 2013 2 December 2014 33 (Netanyahu)
Benjamin Netanyahu Likud 4 December 2014 18 December 2014 Serving Prime Minister
25 Nimrod Sapir 18 December 2014 Incumbent Acting Finance Minister[4]

Deputy Ministers[edit]

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

See also[edit]


External links[edit]