Israel’s nearly three-year war, which began on Oct. 7, has cost the country about 420 billion shekels ($142 billion), while defense-related spending is expected to reach 1.5 trillion shekels over the next decade.
Axar.az reports, citing Haaretz, that despite the unprecedented cost, Israel’s economy has remained resilient, supported by its high-tech sector, defense industries, relatively low public debt at the start of the war and large foreign currency reserves.
However, the war has increased Israel’s national debt by 400 billion shekels ($135 billion), with the public yet to significantly begin paying down the additional debt, Haaretz said.
The newspaper also warned that US military and financial assistance, which has included about $20 billion for the war, could decline significantly or end in the coming years, placing an additional burden on Israeli taxpayers.
Haaretz said the prolonged conflict has also put pressure on Israel’s reserve forces, with Chief of Staff Eyal Zamir warning that the reserve army itself could collapse. The newspaper criticized the government for failing to advance the conscription of ultra-Orthodox men and to distribute the burden of the war more equally.
Source: en.axar.az
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