Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Russian Foreign Ministry: Moscow has lodged a protest with Israeli authorities over the attack on a vehicle belonging to the Representative office of the Russian Federation to Palestinian National Authority
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Brital, Baalbek
Al Mayadeen's correspondent: An Israeli drone launched three missiles on the Baalbek-Rayak international road in eastern Lebanon
Salam: The army has been tasked with developing a plan for "state weapons monopoly" by the end of this year and presenting it to the ministerial council before the 31st of this month
Salam: Discussion of the US document paper will be pursued in a government session next Thursday
Salam: We affirm Lebanon's right to self-defense in the event of any aggression.
Lebanese Prime Minister Nawaf Salam, in a statement after the government session that discussed the "state weapons monopoly" clause: Based on the ministerial statement, the Lebanese state is committed to implementing international resolution 1701
Sheikh Qassem: Lebanon is a country where sacrifices and blood have been made, and we will discuss any matter related to it in Lebanon; no one think of imposing any diktats on us
Sheikh Qassem: We must beware of the advocates of sedition whose hands are stained with blood and who serve the Israeli project
Sheikh Qassem: We are a fundamental component of Lebanon, so how the resistance is approached must be reconsidered

Genocide fuels Israel’s economic collapse

  • Hannan Hussain Hannan Hussain
  • Source: Al Mayadeen English
  • 8 Nov 2023 06:53
  • 6 Shares
5 Min Read

Nearly 50% of Israeli companies are experiencing a significant drop in their overall revenues, courtesy of "Israel’s" state-sponsored aggression in Gaza.

  • x
  • Genocide fuels Israel’s economic collapse
    Israeli occupation Prime Minister Benjamin Netanyahu (Illustrated by Mahdi Rtail)

“I promise you citizens of ‘Israel’: we will complete the job. We will continue until victory.”

This was the fiction from occupation Prime Minister Benjamin Netanyahu as economic turbulence gripped "Israel", forcing scores of companies and businesses into shutdown. The combined death toll from Israeli war crimes in Gaza has topped 10,000, demanding a fierce reckoning at home.

Netanyahu’s principal role in advancing blatant massacres in Gaza makes the economic costs of the genocide particularly significant. Inflation is set to rocket to nearly 7 percent, shattering the myth of "Israel’s" smooth sailing into 2024. It was only recently that the Israeli Central Bank also touted a growth rate of nearly 3 percent next year, another sign that the occupation is keen to sustain a narrative of stability as its active genocide sends shockwaves across the region. 

However, rating agency Moody's shot that growth rate number down to a dismal 1.4 percent and others have followed since. It is Israeli aggression that is squarely to blame for a global recession that is gathering steam in the midst of the genocide. Netanyahu is central to that new wave of economic destruction knocking at the gates.

Whichever way one cuts it, the Israeli occupation is set to brace the economic consequences of its sustained warmongering and brazen military assault in Gaza. All this is a recipe for fueling substantial domestic opposition to Benjamin Netanyahu, a figure courting massive protests and losing a noticeable share of his core support on the back of the genocide. 

First, rising inflation is likely to weigh heavily on public minds in "Israel", one of many factors set to fuel public discontent to Likud’s disadvantage. Netanyahu’s blatant economic incompetence is on full display. Early signs include overwhelming pressure on the pro-settler figure to divert state funds from non-essential items to cater to so-called ‘damage control’ in the economy. Make no mistake – damage control is nothing but bluster. 

In reality, major sectors of "Israel’s" fragile economy are already feeling the heat, as hundreds of economists sound the alarm: that "Israel’s" war would inflict damage worth tens of billions of shekels. For a brutal occupation that takes pride in violating the rights, honor, and liberties of innocent Palestinians in Gaza, these economic consequences are part of an inevitable reckoning at home. Consider it just the beginning of a state-sponsored collapse of power.

Related News

Brazil will also go to the ICJ against 'Israel's' genocide of Palestine

Georges Ibrahim Abdallah: Lebanon’s lion roars the truth

Energy revenue won’t be a saving grace for the occupation. Israeli aggression on the Gaza Strip has already dealt a major blow to the occupation's gas exports to Egypt, declining by over two-thirds since October 7 with grim hopes of a turnaround. Netanyahu is on course for economic self-destruction as he plans to commit some $2.2 billion to ultra-Orthodox and hard-right settler parties to keep his sinking coalition in-tact. 

It is the same pro-settler and pro-genocide enterprise that has pushed investors to exit exchange-traded funds in the occupation. More support for pro-settler attacks is thus a recipe to fuel multifront resistance to "Israel", where continuous war spending will render economic unrest untenable within the occupation.

Without doubt, Netanyahu and his Likud party should prepare to incur the astronomical costs of a state-sponsored genocide in Gaza. That includes key political costs that could weaken Netanyahu’s slippery grip over power. It is evidenced by reports that Netanyahu has led 'Israel' to its worst catastrophe in history. Protests held in front of Netanyahu are likely to take on a new life as well, given how Israeli airstrikes and missile attacks killed 60 of the occupation’s own captives in Gaza. The space for Netanyahu to skirt these realities and justify blatant falsehoods is fading fast. 

Fierce opposition is destined to mount, considering that the occupation leader has long positioned himself as the key architect of "Israel’s" so-called growth. But the ongoing genocide confirms that key sectors – from construction to food services – are effectively on their knees. Sustaining the occupation will only accelerate that collapse.

And yet, an unrelenting desire to fund Gaza’s bombardment and genocide could drill more holes in Netanyahu’s fragile alliance of pro-settler and pro-genocide supporters. Earlier reporting by the Financial Times revealed a steady erosion of Netanyahu’s core base, helped in part by a deepening economic crisis that takes the lid off the occupation’s cosmetic growth assurances. 

Consider the fact that nearly 50% of Israeli companies are experiencing a significant drop in their overall revenues, courtesy of "Israel’s" state-sponsored aggression in Gaza. Netanyahu is also struggling to offer any credible rationale to restore dwindling public trust in his government’s financial leadership. A depleted workforce further underscores "Israel’s" coming economic chaos, exposing the extent of internal panic within an occupation that justifies progress at the expense of Palestinian blood. 

"I hold Netanyahu responsible for this [attacks on captives]," one of the captive's relatives recently told Haaretz. 

From the economic collapse to Netanyahu’s brazen political doublespeak, each cost is destined to take its own toll in due course. 

The views expressed in this article are solely those of the author and do not necessarily reflect Al Mayadeen’s editorial stance.
  • Palestine
  • Benjamin Netanyahu
  • Israeli occupation
Hannan Hussain

Hannan Hussain

Writer and author.

War on Gaza

War on Gaza

Most Read

All
Given ample indications Epstein was collating sexual blackmail material on powerful figures for intelligence agencies, comments made by Mirage's cofounder to Ynet take on a chilling character. (Al Mayadeen English; Illustrated by Batoul Chamas)

Zionist spies innovate AI sexual blackmail tech

  • Analysis
  • 27 Jul 2025
The right wing love affair with Zionism has ended

The right wing love affair with Zionism has ended

  • Opinion
  • 23 Jul 2025
Georges Ibrahim Abdallah: Lebanon’s lion roars the truth

Georges Ibrahim Abdallah: Lebanon’s lion roars the truth

  • Opinion
  • 31 Jul 2025
What is the current state of Resistance forces, after the Al-Aqsa Flood operation, the collapse of independent Syria and the ongoing attacks on Lebanon and Iran? (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

Regional Resistance after the Gaza Genocide

  • Analysis
  • 25 Jul 2025

Coverage

All
War on Iran

More from this writer

All
For a retreating US administration to tout peace against a track record of aggression and belligerence is a recipe for further unrest. (Al Mayadeen English; Illustrated by Batoul Chamas)

Why the US is unqualified to promote peace between Thailand and Cambodia

The many triumphs of Georges Abdallah’s liberation

The many triumphs of Georges Abdallah’s liberation

Bethlehem Showdown – Striking Back at Silence

Bethlehem Showdown – Striking Back at Silence

Why Netanyahu is on the ropes

Why Netanyahu is on the ropes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS