Governor of the Bank of Israel Amir Yaron speaks during a press conference at the Bank of Israel offices in Jerusalem, on January 2, 2022. (Photo: Yonatan Sindel/Flash90) The ongoing war in Gaza with the terrorist organization Hamas is expected to become the financially most expensive war in the history of the modern State of Israel.
Bank of Israel Governor Amir Yaron announced on Thursday that the Gaza war is estimated to cost a whopping $67 billion in military and civilian costs during the period between 2023 and 2025. By comparison, Israel’s annual Gross Domestic Product (GDP) in 2023 amounted to more than $500 billion, with its typical annual defense budget amounting to over $20 billion.
Yaron assessed that the total accumulated cost of the war would be “significant” and warned it would place a serious burden on the national budget.
“The government needs to make sure that it makes the right […]
— Read More: allisrael.com
