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27 November 2023 - 14:03
Operation Al-Aqsa Storm hits Israel's economy hard

The Israeli regime's media outlets have reported that the economic sectors of the regime, especially its small-size enterprises, have been hit hard since the onset of the Operation Al-Aqsa Storm.

The Israeli regime’s Central Bureau of Statistics announced that firms located in the occupied territories have been broadly affected by the negative impacts of the war on the Gaza Strip, which kicked off on October 7, IRNA reported on Monday.

The Yedioth Ahronoth (Ynetnews) newspaper reported that small-size enterprises have been hit hard due to the ongoing war and many of these businesses have been shut down. According to the Israeli daily, the activities of the small companies reached 37% of their capacities.

Around 59% of Israeli firms located in the southern Gaza envelope have decreased their activities to the lowest level. A week ago, a famous economist of the regime warned that the amount of damage inflicted upon production capacity in the occupied territories reached 14% because of the current war.

Bloomberg, a US media company, reported that the Israeli-Palestinian conflict was costing Israel’s economy around $260 million every single day; thus, it seems to be very difficult for the Israeli cabinet to overcome the repercussions.

Meanwhile, the Ministry of Finance of the regime called for the immediate shutdown of six ministries as a result of economic hardship.

The governor of the central bank of the Zionist regime, Amir Yaron, acknowledged that the war has unprecedented expenses for Tel Aviv and is expected to impose pressure on the budget deficit of the regime. According to the official, the amount of loans for the internal production sector will reach 65% by the end of 2024.

The Institute for National Security Studies of the Zionist regime declared that the continuation of the conflict would inflict long-term and broad consequences upon the Israeli regime's economy.

News ID 196547

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