(Bloomberg) --

Israeli Finance Minister Avigdor Liberman announced plans to move forward with a 110-billion-shekel spending plan for infrastructure projects including water, energy and construction, once the national budget is passed.

About half the money will be earmarked for the private sector, and the first projects will be put into motion in the first quarter of next year, the minister added, in a call with journalists on Sunday. “This should give more momentum to the Israeli economy,” he said.

The Israeli budget must be approved by a mid-November deadline. It has passed its first reading, and must be approved in two more parliamentary votes before it becomes law.

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