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Hundreds of Israel's top ministers will soon receive salary raises, despite the global financial crisis that is still continuing to harm Israel's economy.

President Shimon Peres, Prime Minister Benjamin Netanyahu, 38 ministers and deputy ministers, 79 Knesset members, judges, will all receive a raise of between 5 percent ? 7 percent in January 2010.

In addition, hundreds of lower ranking officials will also receive salary raises of between 2% - 3% in January.

These raises come despite the fact that these officials received similar raises in 2009.

The private sector, meanwhile, still sees no end to the economic crisis. Many workers have been laid off and salaries and benefits have been slashed.

Knesset MK Uri Ariel (National Union) had proposed cutting Knesset salaries by 5%, but his proposal was rejected by the Knesset speaker.