PNN – The brutal aggression of the Israeli regime on the Gaza Strip has caused heavy damage to the economy of this regime, so that according to the estimates of the Zionist regime, this war and its effects and consequences will cost the Zionists 200 billion shekels, equivalent to 51 billion dollars.
According to Pakistan News Network’s report on Tuesday, quoting the Arabic 21 base, initial assessments show that the cost and damages of the Gaza war in the past month have reached staggering figures.
The Ministry of Finance of the Zionist regime has predicted that the war with the Palestinian resistance and its effects and consequences will cause about 51 billion dollars in damage to this regime and its effects will be much more extensive than Covid-19.
The Hebrew-language newspaper “Calcalist” wrote that according to the preliminary statistics of the Ministry of Finance of the Zionist regime, the war with Hamas in the Gaza Strip will cost Israel more than 200 billion shekels, which is equivalent to 10% of its gross domestic product.
According to the estimates of the Zionist regime, the current war with Hamas will last between 8 and 12 months, regardless of the spread of the conflict to other areas, including Lebanon and the resistance forces in Iraq and Syria.
Calcalist further described the forecast of the Ministry of Finance of the Zionist regime as optimistic about the cost of 51 billion dollars in the war with Hamas.
Reuters, citing the same report published in this Zionist newspaper, wrote that half of this cost estimate is spent on military expenses, which reaches about 1 billion shekels per day, and in addition, part of this cost is supposed to be spent on compensation for lost jobs and its reconstruction.
In a report published by JPMorgan Chase Bank last week, it was found that the size of Israel’s economy will shrink by 11% in the last quarter of this year due to the Gaza war.
The evaluations of this bank are among the most pessimistic evaluations of Wall Street analysts so far, and based on this, many investors have sold their Israeli shares.
According to this report, in the third quarter of this year, the economy of the Zionist regime will lose all the profits it had earned during the year due to the encroachment on the Gaza Strip.
The last time the size of Israel’s economy shrank was in 2020 and after the spread of Corona.
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The initial cost of encroachment
The Zionist newspaper Yediot Aharonot wrote about this: The initial evaluations of the Ministry of Finance are based on the hypothesis that this situation will last for a year and that this war will not become more widespread.
This newspaper added: Although this assessment is preliminary and very changeable, but based on different hypotheses, the cost of the war will reach 200 billion, which is about 10% of the GDP.
Yediot Aharonot added: One of the primary hypotheses based on these evaluations is that this war will last from 8 months to a year, that is, it will end at the end of 2024, and the war is only limited to the Gaza front, the reserve forces, which number 350,000 people, will soon return to service, and the last hypothesis is that the war be drawn to other fronts such as Yemen and Iran.
This Zionist newspaper continued: Due to the existence of many hypotheses and possibilities, the Ministry of Treasury has considered the figure of 200 billion based on an optimistic assessment.
The decline of the Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange Index has fallen by 15%, while the value of some companies in this stock exchange has decreased by 35% compared to before the war.
From the beginning of the Israeli invasion of Gaza until the end of October, the value of the shares of the five largest banks of the Israeli regime in the Tel Aviv Stock Exchange has decreased by 20%.
Last month, the exchange rate of the shekel against the US dollar reached its lowest level since 2012 and reached 4.08 shekels.
On October 9, the Central Bank of Israel poured 45 billion dollars into the market to stabilize the exchange rate, but the current exchange rate shows that the bank’s plan has failed.
Agriculture and food
The amount of agricultural production in the occupied Palestinian territories during the Gaza war has been greatly affected because most of these products are produced in the settlements around the Gaza Strip.
The media quoted the head of the farmers’ union of the Israeli regime and wrote: 75% of the vegetables, 20% of the fruit and 6.5% of the milk produced in the occupied Palestinian territories are produced in the Zionist settlements near the Gaza Strip.
Harvesting of agricultural products in a large area of ​​northern occupied Palestine has also been stopped at the borders of Lebanon due to Hezbollah’s operations.
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Work force
The Israeli army has summoned 350,000 employees to join the army as a reserve force, and this number constitutes about 8% of the workforce, which should include 140,000 Palestinian workers and workers who were working in the occupied territories.
According to a report from the Zionist Ministry of Labor, Yediot Aharonot newspaper wrote that 46,000 Zionists have been fired from their jobs and 760,000 workers have been fired since the beginning of the war, either as reserve forces in the army or fleeing from their homes under the pressure of resistance missiles.
Last month, the economic rating agency Moody’s published a report that put Israel under review due to a possible downgrade.
Warnings of the Great Collapse
Last week, 300 top Israeli regime experts warned about the risk of economic collapse and called for immediate measures to prevent further damage.
Economists wrote in a letter to Benjamin Netanyahu, the Prime Minister of the Zionist regime and his Minister of Finance: You do not understand the extent of the crisis that the Israeli economy is facing and you should change your way of working.
They announced that the economy of the Israeli regime is going through difficult times and urgent measures should be taken to prevent further damage.