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
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country
AEOI Chief Mohammad Eslami: We witnessed new, stricter stances from European countries since signing new agreement with IAEA
Saree: Our UAV force targeted the so-called Ramon Airport in the Umm al-Rashrash area in southern occupied Palestine
YAF spokesperson Brigadier General Yahya Saree: Our rocket force carried out an operation with a Palestine 2 hypersonic ballistic missile targeting a sensitive target in the occupied Yafa area
Trump administration clears first Ukraine arms aid package paid for by allies: Reuters, citing sources
Saudi Crown Prince Mohammad bin Salman receives Secretary of Iran's Supreme National Security Council Ali Larijani at his office in Al-Yamamah Palace
Wakim: Surrender is not in our dictionary, and it is not true that "Israel" can implement its project in Lebanon and the region
Wakim: The US is preventing the armament of the Lebanese army. The question is, why are the weapons it is handed over by the Resistance being destroyed?
Wakim: The Resistance is required to hand over its weapons to the [current] authority. The question is: Is this authority independent or subservient to America?

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

Israeli forces escalate Gaza City aggression, dozens martyred

Spain’s King Felipe VI decries Gaza residents 'unspeakable suffering'

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

Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Britain Trained Israeli Soldiers Involved in Gaza War: Declassified
Europe

UK training of Israeli officers sparks outcry over Gaza war complicity

Luxembourg's Prime Minister Luc Frieden arrives for an EU summit at the European Council building in Brussels, Thursday, June 26, 2025. (AP Photo/Omar Havana)
Politics

Luxembourg to recognize Palestine at UN summit next week

European Union flags flap in the wind outside EU headquarters in Brussels, Wednesday, Sept. 3, 2025 (AP)
Politics

EU exec. branch to adopt new sanctions against 'Israel' on Wednesday

Charlie Kirk killing suspect faces charges in Utah court hearing
US & Canada

Charlie Kirk murder suspect faces formal charges in Utah court hearing

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