Omicron wave to cost Israeli economy $14 billion
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The omicron variant did not exempt the Israeli occupation from the repercussions of its outbreak; so, how was "Israel" affected by the latest wave?
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The repercussions will include all sectors of the Israeli economy.
The Israeli economy will be largely affected by the COVID-19 pandemic's latest variant outbreak that has caused a spike in cases around the world.
"Israel" will bear the brunt of the pandemic, as the upcoming two months will see "Tel Aviv" paying some 44 billion shekels ($14 billion), a study said.
The study, published by the Israeli MACRO Center for Political Economics, suggests that the damages to the economy stem from hundreds of employees being quarantined, in addition to the lack of customers in light of mounting fears over omicron.
The Israeli government will compensate the various sectors of the economy by 12.5-25%, which "Tel Aviv" decided around two months after the fifth COVID-19 wave. Compensation at the rate of 12.5% will cost the occupation more than $1.7 billion, and the 25% compensation will cost more than $3.5 billion.
According to the Israeli study, the omicron outbreak will chiefly impact the entertainment sector, affecting it by 45%. Second in line is the service sector, which includes hotels, restaurants, and cafes, and that sector will be affected by 35%.
The telecommunications sector comes in third, affected by 20%, followed by the trade and education sectors, which will be affected by 15%, and then the construction, health, and transportation sectors, which will be affected by 5%.
These repercussions come after the Israeli occupation rescinded its mask mandate after cases dropped last year, but that came right around and caused a surge in cases due to governmental neglect.
