TEL AVIV, May 3. /TASS/. Israel will add 350 billion shekels ($119 billion) to its defense budget to develop its own munition production capacities in the next ten years, Prime Minister Benjamin Netanyahu said.

"Regarding independence: I have directed investment into the domestic production capacity of munitions. Over the coming decade, we will add 350 billion NIS (New Israeli Shekel - TASS) to the defense budget to manufacture these munitions here in Israel, ensuring we are not dependent on foreign sources," he said in a video address released by his office.

"Simultaneously, we will develop groundbreaking Israeli-made aircraft. This will change the entire picture," he noted, adding that several weeks ago he had ordered to establish "a special project to thwart the drone threat.".