Prime Minister Benjamin Netanyahu announced approval of a NIS 112 billion gas deal with Egypt, saying billions in revenue will strengthen Israel’s economy and education system.
"I approved the largest gas deal in Israel's history - 112 billion shekels (approx. $35 billion). Of that, 58 billion shekels will go to the state's coffers," Netanyahu stated.
"In the first four years, we will receive half a billion shekels for the state's coffers, and after that it will begin to increase, until it reaches six billion shekels a year," he added.
According to the Prime Minister, "This money will strengthen the nation's educational infrastructure. I approved the deal after I ensured our security interests. The deal encourages the search for gas in our region, and encourages companies to sell gas for a low price to you, citizens of Israel."