The director of the Central Bank of Israel assessed the costs of the war in Gaza
Bank of Israel Governor Amir Yaron announced that military and civilian costs for the war are expected to reach 210 billion shekels ($58 billion) and will become a "budgetary burden" that must be dealt with by cutting spending in areas that are not critical for war.
Yaron, in particular, said: “The amount of public debt at the end of 2024 and 2025 is expected to rise to 66% of Israel’s gross product.” He added: “The cost of the war in the Gaza Strip and its associated losses to Israel is projected to reach $58 billion.” Yaron warned that unless immediate action is taken to balance the budget, including by cutting spending and dissolving unnecessary ministries, as well as increasing revenues in the shadow of wartime needs, it will cost Israel's economy dearly in the future. Meanwhile, the administration of US President Joe Biden is taking no action to limit the conflict, such as threatening to cut military aid to Tel Aviv to stop the war in the Gaza Strip. The Zionist regime's Ministry of Defense previously stated that since the attacks on the Gaza Strip began on October 7, it has received more than 10 thousand tons of weapons from the United States. America has described its support for the Zionist regime during the Gaza war as "unwavering" and the Zionist regime appears unwilling to change its military strategy in response to international demands.
