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Thursday, November 28, 2024

Bloomberg: Military spending has weakened Israel’s economy

PNN – In a report, Bloomberg news agency, referring to the conflicts of the Zionist regime with Hamas and Lebanon’s Hezbollah, as well as the escalation of tensions with Iran, wrote: “Military expenses have weakened the economy (of the regime) of Israel.”

According to the report of Pakistan News Network, Bloomberg reported that the Zionist regime has approved the 2025 budget in a way that paves the way for increased military spending and higher taxes, indicating a deep shift in the regime’s priorities since the start of the war with Hamas.

According to the Bloomberg report, conflicts with Hamas and Hezbollah of Lebanon, as well as the escalation of tensions with Iran, have weakened the economy of the Zionist regime and forced Prime Minister Benjamin Netanyahu to focus on curbing the budget deficit.

The Bloomberg report adds: Netanyahu said on Thursday that if you increase the budget of one sector, you unfortunately have to decrease the budget of another sector, saying that there is no such thing as an economy without limits, before starting discussions on the 2025 budget plan with his cabinet members.

According to the Bloomberg report, the budget plan of 607 billion shekels (163 billion dollars) for the year 2025 of the Zionist regime must be submitted to the parliament of this regime (Knesset) for approval.

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According to the Bloomberg report: Some opposition leaders have criticized the budget, saying it is designed to please members of Netanyahu’s far-right coalition while keeping spending for religious and military purposes that do little to boost economic growth.

The Bloomberg report adds that although the military budget of the Zionist regime in 2024 is predicted to be the same as the previous year (2023), this budget is 80% more than the figure that this regime predicted in its financial plans for the military budget in 2024 before the start of the war in Gaza.

According to a Bloomberg report, Israel has been downgraded several times since the beginning of the conflict in Gaza.

According to a Bloomberg report, Benny Gantz, a retired member of the Israeli war cabinet, wrote in a message on his user account on X social media (formerly Twitter) that this budget was set up only for the political survival of Netanyahu and his coalition, and shame on everyone who supported this budget.

“Bloomberg” news agency had previously reported that the economic growth of the Zionist regime has decreased due to the heavy losses suffered as a result of the war against the Gaza Strip and Lebanon.

According to the Bloomberg report, the third and latest assessment of the Central Bureau of Statistics of the Zionist regime shows that the gross domestic product of this regime grew by only 0.3% annually in the three months ending last June, taking seasonal adjustments into account.

Previously, the previous evaluations of the Central Bureau of Statistics of the Zionist regime, which were published last August and September, showed the growth of the gross domestic product of this regime by more than 1.2 percent and 0.7 percent, respectively.

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