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Al Mayadeen correspondent in southern Lebanon: An Israeli drone strike targeted the town of Yater, South Lebanon
Lebanese Ministry of Health: One martyr and five wounded in an Israeli drone strike on a car in Al-Numayriyeh, Nabatieh District.
Al Mayadeen correspondent to Gaza: The areas required to be evacuated in western Gaza contain tens of thousands of displaced people.
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The Israeli military command confirmed the death of an officer—a commander serving as a team leader in the elite 1st Golani Brigade’s Patrol Battalion—during intense confrontations in the southern Gaza Strip
Israeli media: An Israeli guard was killed in a shooting attack at the Gush Etzion Junction, and those who carried out the operation were injured
Ofer Military Court extended Nasser al-Lahham's detention for three days

Settlers can't pay their bills as 'Israel's' multibillion war persists

  • By Al Mayadeen English
  • Source: Al Mayadeen English + Israeli Media
  • 16 Dec 2024 15:15
  • 1 Shares
2 Min Read

Israeli settlers are grappling with the economic consequences of their government's genocidal war on the Gaza Strip.

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  • A man checks the buses that were damaged following a rocket attack fired from Lebanon during the night, hours before the start of the ceasefire, in Kiryat Shmona, northern Palestine, Nov. 27, 2024. (AP)
    A man checks the buses that were damaged following a rocket attack fired from Lebanon during the night, hours before the start of the ceasefire, in Kiryat Shmona, northern Palestine, on November 27, 2024. (AP)

Around two million Israeli settlers are facing difficulties paying their primary dues and bills and are grappling with the continuously deteriorating economic state as the war rages on for its 14th month, according to Israeli media.

Moody's downgraded "Israel's" sovereign credit rating to Baa1 from A2 in September, citing the escalating conflict in the region and concerns about long-term economic stability. Later in November, the agency maintained its negative outlook for "Israel", warning that further downgrades remain possible.

In addition to external risks, Moody's pointed to domestic political challenges, including proposed judicial reforms and attempts to exempt ultra-Orthodox Israelis from military service, as significant factors contributing to social tensions and economic uncertainty.

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"In our view, the Israeli government is pursuing policies that add to already high social tensions in the country," the agency stated, noting that these dynamics could impact investor confidence and the country's economic growth prospects.

In October, Israeli Finance Minister Bezalel Smotrich acknowledged that the ongoing "war is the longest and most expensive war in Israel’s history", with direct costs amounting to approximately 250 billion shekels ($66.6 billion) so far.

He further emphasized that this figure is likely to increase, stating, "We will all feel the need to finance this war, and it will not be easy for us."

Read more: From lower ratings to higher deficits, Israeli economy in hot water

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