Israeli Economy Faces Challenges After War with Iran
(MENAFN) The Israeli economy is facing significant repercussions due to its 12-day conflict with Iran, with the war's financial toll amounting to hundreds of millions of dollars, as reported by various media outlets and experts.
During the first week of the conflict, Israel's expenses reached around USD5 billion, as per the Financial Express.
The daily cost of the war was approximately USD725 million, with USD593 million dedicated to military strikes and USD132 million spent on defense and mobilizing military forces.
A news outlet highlighted that Israel's daily expenditure on anti-missile air defense systems ranged between USD10 million and USD200 million.
Had the conflict lasted for an entire month, the overall cost could have surpassed USD 12 billion, as estimated by the Israel-based Aaron Institute for Economic Policy.
Naser Abdelkarim, an assistant professor of finance at the American University of Palestine, told a news agency that the war not only impacted Israel’s military expenditure but also disrupted its production activities.
He suggested that, both directly and indirectly, the war could cost Israel as much as USD 20 billion.
Abdelkarim also projected that Israel's budget deficit could rise by 6 percent, with compensation payouts to affected citizens further exacerbating the country’s public finances.
In the first week of the conflict, over 10,000 Israelis were forced to evacuate their homes, and approximately 36,465 individuals filed claims for compensation, according to the Israel Tax Authority.
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