Thousands of businesses in north closed since October 7: Israeli media
3 Min Read
Despite the occupation entity's strict policy of secrecy concerning its human losses on the Lebanese-occupied Lebanese border, daily revelations in the Israeli media continue to expose economic losses. The latest includes reports of thousands of businesses in the northern part of the entity being closed since October 7.
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UN peacekeepers patrol on the Lebanese side of the Lebanese-Palestinian border in the southern village of Kfar Kila, with the Israeli town of Metula in the background, Lebanon, Monday, Oct. 9, 2023. (AP)
The Israeli Kan channel unequivocally confirmed that thousands of businesses in the northern settlements of the occupation entity have closed since October 7, 2023. This alarming development unfolds against the tense backdrop of the ongoing confrontation and escalation between Hezbollah and the Israeli occupation forces.
The Israeli Minister of Immigration and Absorption, Ofir Sofer, openly admitted that he believes "it was a mistake to escalate tensions on the northern front in the early stages of the war," emphasizing that "Israel" must pursue a political solution.
It is noteworthy that the Israeli newspaper Yedioth Ahronoth reported last Thursday on the agricultural losses the Israeli occupation sustained amid the ongoing confrontations on the northern front.
Read next: War on Gaza to cost 'Israel' about 10% of 2024's GDP: Central Bank
Ynet, the newspaper's online portal, reported that fear of Hezbollah's firepower has caused extensive financial damages to northern settlers, mainly to farmers, because they are unable to work on the farmland they had usurped from the people of northern Palestine and southern Lebanon. According to the Israeli outlet, the losses amount to 500 million shekels ($131 million).
"Farmers in the north complain of the difficulties to reach the farmland alongside the border area, with there being losses on two fronts: the unharvested fruits and the damages done to the next harvest season," the website said.
A report by NPR on January 16 detailed that the Israeli economy is enduring more difficulties now that tensions have worsened along the Lebanese border.
The NPR reports that, for instance, The Golan Heights Winery owners said that not only tourism and visitors have dwindled since the outbreak of the war, but daily operations have been disrupted as well.
Read next: Israeli fiscal deficit surges to 4.2% of GDP amid heightened war costs
The economic downturn extends beyond the wineries. Border settlements, like "Kiryat Shmona", experience credit card spending levels that are still 70% below normal, economist Tomer Fadlon said. The evacuation of tens of thousands of settlers has resulted in an estimated cost of $158 million each week to "Israel's" economy, according to the Bank of "Israel."
The broader economic impact depends on the settlers' decision to return. Fadlon stressed that for "Israel", the war's aftermath is not only about winning but also about restoring confidence in safety and normalcy. The financial toll is substantial, with the central bank estimating a total cost of $56 billion — nearly half of "Israel's" annual budget.
![In a 2021 interview with Frontline by former US special representative James Jeffrey, he says he had "engaged with [HTS] via backchannels while serving in President Trump’s State Department. (Al Mayadeen English; Illustrated by Batoul Chamas)](https://alpha-en-media.almayadeen.net/media/image/2024/12/21/b4a69f2e-8682-43e4-9d37-49482b304ab3/3.png?v=2&format=webp "In a 2021 interview with Frontline by former US special representative James Jeffrey, he says he had \"engaged with [HTS] via backchannels while serving in President Trump’s State Department. (Al Mayadeen English; Illustrated by Batoul Chamas)")
