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
Israeli media: 4 Israeli soldiers killed in the Gaza Strip
Gaza Government Media Office: Starved citizens are tempted to head to American-Israeli centers and then are deliberately shot
Gaza Government Media Office: The toll at US-Israeli aid distribution centers is as follows: 110 martyred, 583 wounded, and 9 missing
Gaza Government Media Office: 8 starved civilians were killed and 61 others were injured by the gunfire of Israeli occupation forces and an American security company in Rafah
Al Mayadeen's correspondent: Three martyrs, injured in Israeli drone strike on phone charging station west of Khan Younis, southern Gaza.
Al Mayadeen's correspondent: Four martyrs, dozens of injured as IOF open fire on civilians near GHF facility west of Rafah, southern Gaza.
Lebanese Army: This may push Army to freeze cooperation with committee regarding investigating facilities.
Lebanese Army: Enemy's continued violations of agreement and its refusal to respond with implementation committee weakens committee, Army's role.
Lebanese Army: A number of patrols also headed to locations under threat to investigate them, despite enemy's refusal of proposal.
Lebanese Army: As soon as enemy announced its threats, Army began coordination with ceasefire committee to stop attack.

Israeli debt rose by $8 billion since start of war on Gaza

  • By Al Mayadeen English
  • Source: Agencies
  • 14 Nov 2023 01:23
  • 5 Shares
3 Min Read

The Israeli occupation's debt is on the rise as the war on Gaza continues to increase in cost for "Israel".

  • x
  • Israeli Prime Minister Benjamin Netanyahu attends a press conference with Security Minister Yoav Gallant and Cabinet Minister Benny Gantz in the Kirya military base in 'Tel Aviv', occupied Palestine, October 28, 2023 (AP)
    Israeli Prime Minister Benjamin Netanyahu attends a press conference with Security Minister Yoav Gallant and Cabinet Minister Benny Gantz in the Kirya military base in 'Tel Aviv', occupied Palestine, October 28, 2023 (AP)

The Israeli occupation has successfully raised approximately 30 billion shekels ($7.8 billion) in debt since the start of its aggression on Gaza, as reported by the Finance Ministry on Monday.

Out of the total amount, around 16 billion shekels were raised through dollar-denominated debt in international markets, highlighting the Israeli occupation's efforts to seek financial support on a global scale.

In addition to this, the Finance Ministry conducted a weekly bond auction in the local market, resulting in the acquisition of an additional 3.7 billion shekels.

The Israeli occupation's financial capabilities "allow the government to fully and optimally finance all its needs," stated the accountant-general division of the ministry as the debt continues to pile up just short of 40 days into the aggression.

Genocide is proving to be expensive as the Israeli occupation's expenditures continue to pile up as the funds allocated to support the Israeli occupation forces and the businesses located near the separation wall erected on Gaza's border seem to diminish as tax incomes are on a low.

"Israel", in light of the expenditures and the diminishing taxes, is facing a substantial budget deficit of 22.9 billion shekels in October, a near-five-fold increase from September's 4.6 billion. Over the past 12 months, the Israeli occupation's deficit has risen to 2.6%.

Prime Minister Benjamin Netanyahu previously pledged to "open the taps" in light of the ongoing war. Meanwhile, economists anticipate that this would hike the deficit and debt-to-GDP ratio through 2024.

Related News

17 Palestinians killed since dawn in Israeli bombing of Gaza

Israeli soldiers injured in Khan Younis booby-trapped building

The governor of the Bank of Israel, Amir Yaron, went against this view, emphasizing the need for the government to strike a balance between supporting the economy and maintaining a sound fiscal position. 

Due to the prolonged aggression on Gaza, "Israel's" economy is predicted to contract by around 1% this year, and the country's debt to GDP ratio is predicted to surpass 65%, central bank governor Amir Yaron stated on Thursday.

In a live-streamed discussion regarding monetary policy, Yaron stated, "Assuming the war is primarily concentrated in the southern border, and lasts till the end of this year, GDP growth is likely to shrink by about 1% in 2023."

The Israeli Finance Ministry announced on Wednesday that the occupation's budget deficit for October was 22.9 billion shekels ($6 billion), citing an increase in costs associated with financing "Israel's" war on the Gaza Strip.

Credit rating agencies have issued warnings about the potential downgrade of Israel's ratings if debt metrics continue to deteriorate, as well, as "Tel Aviv" might move toward asking for a loan from the central bank, as per Israeli media.

Moreover,  Galit Altstein wrote for Bloomberg News that the ongoing war on Gaza is causing the Israeli economy significant losses, estimated at about $260 million daily.

Yet, it's not just the financial toll that's causing concern for Netanyahu. The conflict, already devastating in terms of lives lost, is proving to be more costly than initially anticipated, straining public finances.

However, it's the controversial allocations for ultra-Orthodox schools and other favored causes championed by extremist groups in the ruling coalition that have sparked a national debate and unsettled markets.

  • Palestine
  • Israel
  • Benjamin Netanyahu
  • Israeli occupation
  • Gaza
War on Gaza

War on Gaza

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
It may well be due to the longstanding relationship between MI6 and HTS, via Inter Mediate, that Britain was the first Western country to recognise their assumption of government in Syria. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

How MI6 helped HTS seize Syria

  • Opinion
  • 31 May 2025
Palestinians struggle to get donated food at a community kitchen in Khan Younis, southern Gaza Strip, Monday, June 2, 2025. (AP)

Boston Consulting Group withdraws from GHF

  • Palestine
  • 3 Jun 2025

Coverage

All
War on Gaza

Read Next

All
Poll
Palestine

Sharp decline in international perception of 'Israel', Netanyahu: Poll

Ukrainian soldiers with the anti-drone KVS G-6, manufactured by Kvertus Technology.Territorial Defense Forces of the Armed Forces of Ukraine/Facebook
US & Canada

Shift in US priorities: Drone fuzes reallocated from Kiev to CENTCOM

US Jews accuse Trump of antisemitism despite his pro-'Israel' stance
US & Canada

US Jews accuse Trump of antisemitism despite his pro-'Israel' stance

Former US President Joe Biden speaks from the Oval Office of the White House in Washington, Sept. 30, 2024 (AP/Mark Schiefelbein)
US & Canada

Trump orders investigation into Biden’s autopen use, cognitive fitness

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