HEADLINES- Israel Targets 3.2% GDP Deficit in 2026- Itai Ofir Appointed Military Advocate General- Norway Fund Pauses Israel Investments Revises EthicsThe time is now 1:01 PM in New York, I'm Noa Levi and this is the latest Israel Today: Ongoing War Report.Today’s hourly update focuses on rapidly shifting security, political, and policy developments across Israel, the region, and allied capitals, framed for an international audience seeking clarity on Israeli security concerns, US policy stances, and the wider geopolitical context.In New Jersey, polling locations were shut down following bomb threats, with local law enforcement securing the sites and conducting sweeps. After operations, the state’s lieutenant governor said there are no credible threats at this time, a statement aimed at reassuring voters and emphasizing continued vigilance at polling sites nationwide.Israel’s security and economic posture continue to be shaped by domestic policy choices and international engagement. Finance Minister Bezalel Smotrich unveiled the 2026 state budget framework, arguing that while the defense establishment requires funding, efficiency measures are essential to avoid inflationary pressure on the civilian economy. He cited a deficit target of 3.2 percent of GDP for 2026, noting that the three-year war footprint has driven deficits in recent years. In announcing the framework, Smotrich stressed that the defense budget would remain substantial but warned that spending cannot remain at current levels indefinitely. Finance Ministry officials and the defense establishment debated spending practices, with the ministry’s director-general arguing for structural reforms to curb what he labeled wasteful practices, including reserve-callup patterns and other non‑combat expenditures. In parallel, Smotrich signaled a plan to reduce income taxes and expand competition in the banking sector, including a proposed new tax on banks tied to interest income, as part of an effort to stimulate labor force participation and support welfare and education. The 2026 budget is slated for government approval on December 4 and would then move to the Knesset, with the process required to conclude by the end of March to avoid triggering elections. Early 2025 projections show growth stabilizing above 2 percent, while 2024’s defense and civilian costs have weighed on the broader economy.In a related security governance development, Defense Minister Israel Katz announced the appointment of Itai Ofir as the next military advocate general, succeeding Major General Yifat Tomer Yerushalmi in the wake of the Sde Teiman leak controversy. Ofir, a former Defense Ministry legal adviser, is slated to rise five ranks to major general upon assuming the post. The appointment, described by Katz as a move to cleanse and reform the military prosecution system, was welcomed by the army’s chief of staff, who stated the importance of leadership untainted by past concerns. Zamir, Israel’s chief of staff, learned of the decision through media reports but subsequently expressed support for the appointment, noting Ofir’s background as a combat officer and lawyer. The choice comes within a broader debate over accountability and transparency within security institutions at a moment when battlefield realities in Gaza and elsewhere continue to test Israel’s legal and ethical frameworks.Another legal-political development involves the Knesset coalition’s view of Attorney General Gali Baharav-Miara in the wake of the Sde Teiman case. Reports suggest the coalition sees openings to seek her dismissal should she be questioned under caution in the leak investigation, underscoring the ongoing friction between the government and the judiciary over investigations linked to the IDF and security services. The controversy highlights the broader tension between civilian oversight and military justice during a period of heightened security pressures and wartime governance.On the international stage, Norway’s sovereign wealth fund announced it would pause divestment decisions while it revises its ethical guidelines, a move prompted by concerns raised in Washington about the fund’s past decisions regarding Israel-related investments. The fund’s management noted that its holdings include some of the world’s largest tech firms, and it warned that changes in exclusions could affect its ability to remain a broad, global index investor. The pause comes as the fund weighs restrictive guidelines amid a geopolitical climate shaped by the Gaza conflict and related policy shifts in major democracies.In parallel, the United States, through CENTCOM, confirmed the operation of an international Civil-Military Coordination Center (CMCC) in Israel’s Kiriyat Gat region. Nearly 40 countries and international organizations are represented at the center, which coordinates civilian and military assistance, tracks the ceasefire’s implementation, and supports stabilization ...
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