Conflict with Hamas to cost Israel 53 billion USD
(VOVWORLD) - The current conflict with Hamas is projected to cost Israel an estimated 53 billion USD, Israel’s central bank said on Monday.
The sum comprises 29 billion USD of defense expenditures while damage compensation and other civilian expenditures make up the rest. Loss of tax revenue is estimated at 9 billion USD.
Israel's GDP is expected to grow 2% in 2023 and 2024. Due to the expected high expenses and the sharp decrease in tax collection, the bank projected that the government's debt would rise from 60.5% of GDP in 2022 to 63% in 2023 and 66% by the end of 2024.