Israel to channel 119 bln dollars to develop weapons production

Israel will add 350 billion shekels ($119 billion) to its defense budget to develop its own munition production capacities in the next ten years, Israeli Prime Minister Benjamin Netanyahu said.

"I have directed investment into the domestic production capacity of munitions. Over the coming decade, we will add 350 billion NIS (New Israeli Shekel) to the defense budget to manufacture these munitions here in Israel, ensuring we are not dependent on foreign sources," Benjamin Netanyahu said.

According to him, simultaneously, Israel will develop groundbreaking Israeli-made aircraft, which will change the entire picture. The PM added that several weeks ago he had ordered to establish "a special project to thwart the drone threat.".