Israel is facing significant economic challenges due to the ongoing conflict in Gaza, with the government taking drastic measures to finance the war and its aftermath. The Israeli economy minister, Nir Barkat, has expressed a steadfast resolve to win the war, despite the economic toll. To manage the financial strain, Israel plans to increase its debt by $60 billion, raise taxes, and double defense spending, while halting government hiring. The economy shrank by 20% in the last quarter, and 300,000 reservists have been mobilized. The Ministry of Defense is ramping up domestic weapons production, with defense orders worth 35 billion shekels ($9.7 billion) placed within the country. This move is aimed at strengthening Israel's independence in national security matters. Additionally, the parliamentary finance committee has approved a proposal to significantly raise the budget deficit target for 2024 to 6.6% of GDP from the previously planned 2.25%, to accommodate the increased spending. The economic minister also highlighted that the war against Hamas in Gaza is expected to help Israel's economy rebound, partly due to the anticipated boost in military technology sales resulting from the conflict.
The Financial Times reports that the Zionist regime plans to raise about $60 billion in debt this year, freeze government hiring and increase taxes as Tel Aviv plans to double its defense spending. This reflects a significant shift in financial strategy, which will potentially… https://t.co/VFD5gUmfkA
#Israel’s parliamentary finance committee cleared a proposal to sharply raise the budget deficit target for 2024 to 6.6 percent of GDP from a planned 2.25 percent due to higher spending to help finance the war against Palestinian group #Hamas. https://t.co/RrWZCVyPHA
The Israeli Ministry of Defense has announced its ramping up domestic weapons production to bolster Israel's sovereignty in matters of national security. Since the conflict's onset, defense orders totaling 35 billion shekels ($9.7 billion dollars) have been allocated… https://t.co/7eiwjGWuhq
ICYMI: #Israel’s war against Hamas in #Gaza will help Israel’s economy rebound after the war, partly because its fresh experience of warfare is set to boost military technology sales, its economy minister says. https://t.co/nekP6wGee6
The country is facing a major economic crisis, with major expenses due to the war and reconstruction efforts expected to reach tens of billions. Right now, Israel is close to doubling defense spending in order to continue to finance the war in Gaza. https://t.co/NvqGCJezQU
Military know-how gleaned from Gaza war to help Israel business, says Minister https://t.co/iNOmuV98MG
“Right now we’re focusing on winning the war,” Nir Barkat, #Israel’s economy and industry minister, said in an interview with Bloomberg in Abu Dhabi. Once it’s over, “we’ll tap into our friends around the world” @AbeerAO1 & Eric Martin report https://t.co/wHhrANlKR6
#Israel’s war against Hamas in #Gaza will help Israel’s economy rebound after the war, partly because its fresh experience of warfare is set to boost military technology sales, its economy minister says. https://t.co/nekP6wGee6
⚠️ MILITARY KNOW-HOW GLEANED FROM GAZA WAR TO HELP ISRAELI BUSINESS, SAYS MINISTER (Reuters) Israel's war against Hamas in Gaza will help Israel's economy rebound after the war, partly because its fresh experience of warfare is set to boost military technology sales, its… https://t.co/4pUd6bk0CN
Faced with increased spending and a need to finance the war in Gaza and the reconstruction effort, the Israeli government is set to take out a $60 billion loan and raise taxes. https://t.co/wGkHuQYtTr
Israel has enormous economic difficulties due to the protracted war in the Gaza Strip, writes the Financial Times. Tel Aviv intends to borrow about $60 billion (approximately 5.6 trillion rubles) in debt, freeze hiring in the civil service and raise taxes to increase the defense… https://t.co/1P1lQOGqBO
The Israeli Ministry of Defense is increasing its own weapons production to strengthen Israel's independence in matters of national security. Since the beginning of the war, defense orders worth 35 billion shekels have been placed within the country. https://t.co/uSOJn6HHFY
According to the Financial Times, Israel plans to increase its debt by $60 billion, raise taxes and increase defense spending. Government hiring will be halted and tax increases will be doubled. In the last quarter, the Israeli economy shrank by 20%, 300,000 reservists were…
JUST IN: Israel's economy minister says, in context of the economic toll of the conflict, 'we are going to win the war regardless of anything'.