The Gaza war has taken a heavy toll on the Israeli economy, with economists estimating a staggering cost of over $67.3 billion. Former CEO of Israel’s Bank Leumi, Rakefet Russak-Aminoach, stated that the war has already exceeded NIS 250 billion and the defense establishment is seeking additional funds. Jacob Frenkel, a former governor of Israel’s central bank, highlighted the country’s growing budget deficit of 8.1%.
Uri Levin, a former CEO of Israel Discount Bank, emphasized the importance of regaining the trust of international investors for economic recovery. Meanwhile, international condemnation has been mounting against Israel for its prolonged offensive on Gaza, resulting in the loss of thousands of lives and widespread destruction.
As the conflict continues, the situation in Gaza remains dire, with essential resources scarce due to a crippling blockade. In light of the allegations of genocide, the International Court of Justice has ordered Israel to cease its military operations in the city of Rafah. The economic and humanitarian costs of the war are significant, underscoring the need for a resolution to the conflict for the well-being of all involved.
[ad_2]
Source link