Image default
Gaza Update Middle East Muslim World Palestine Top Stories

Israeli War in Gaza to Cost Israel Approximately $51 Billion

Jerusalem: Israel has incurred a loss of $51 billion due to the Gaza conflict. Israeli economic newspaper Calcalist has reported this while citing initial figures from the Treasury Department.

The report states that Israel, which is currently engaged in waging a war in Gaza, is bearing a cost of 200 billion shekels, which is approximately equivalent to $51 billion. This estimate of $51 billion accounts for about 10% of Israel’s GDP. The estimate considers the cost of the conflict to continue for 8 to 12 months. This estimate is made assuming that the conflict remains limited to Gaza and does not involve parties like Hezbollah in Lebanon, Iran, or Houthi rebels in Yemen.

According to the report, about half of this cost will be incurred in defense spending, which is roughly one billion shekels per day. The cost of a loss of revenue will amount to an additional 40 to 60 billion shekels, roughly between $10 billion to $15 billion. Furthermore, 17 to 20 billion shekels will be spent on compensating companies.

Similarly, 10 to 20 billion shekels will be spent on rehabilitation projects. Israel’s Finance Minister, Smotrich, mentioned that the Israeli government is preparing an economic relief package for those affected by the Israeli war and that this package will be more substantial than the one created during the COVID-19 pandemic.

Dear TNT Reader,

At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.

Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.

But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.

Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.

Monthly Subscription Annual Subscription

Visa Card MasterCard American Express Card

We want to hear your Travel Stories.

Do you have a memorable, unbelievable, or favorite travel experience? Share your story with us.