TEL AVIV (Reuters) - Israel's new government will have to make painful spending cuts to tackle the country's huge budget deficit, finance minister Yair Lapid said on Sunday, just days after taking office. Wasteful policies and lower-than-expected income has created a "monstrous" overdraft for Israel that needs to be dealt with head on, Lapid said in his first statement since a new government was formed last week. "The picture that is slowly unfolding before me is much worse than I supposed," he said. ...
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