STRATEGIC ASSESSMENT- Israel has suffered losses of $67 billion as a result of its genocidal war on Gaza, it has revealed. These losses include $34 billion in direct military losses and $40 billion in losses to the general budget, the largest in the history of the occupation.
Some 60,000 companies also closed their doors over the past year, 50 per cent more compared to 2023, while the number of tourists decreased by 70 per cent, causing losses exceeding $5 billion for the tourism sector. In addition, the construction sector lost $4 billion, and more than 70 companies in this sector closed their doors.
Data showed that a third of the population of the Israeli occupation lives below the poverty line, while a quarter of the population suffers from food insecurity.
The disclosure of these figures came hours before a ceasefire agreement was reached with Gaza.
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The Israeli Ministry of Finance announced that the occupation has incurred financial losses amounting to about 125 billion shekels (equivalent to $34.09 billion) since the outbreak of the war on the Gaza Strip on 7 October 2023.
The ministry said that the Israeli occupation recorded a budget deficit of 19.2 billion shekels ($5.2 billion) during the month of December, as a result of the increase in expenses related to financing the wars in Gaza and Lebanon.
It is worth noting that these figures represent the direct costs of the war, without taking into account the broader economic and social repercussions that affect various aspects of life in the Israeli occupation.
In this context, the Israeli economic newspaper Calcalist stated that the total cost of the war on the Gaza Strip may have reached about 250 billion shekels ($67.57 billion) by the end of 2024.
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The newspaper based its estimates on data from the Bank of Israel, noting that this amount includes “direct security costs, large civilian expenses, in addition to losses in revenues,” stressing that these figures do not cover all financial aspects related to the war.
Calcalist said this reflects a failure in managing the war on the Strip, which requires “a significant increase in the Israeli Defence Ministry’s budget over the next decade.”
The newspaper added that this future budget will include purchasing more planes, helicopters and armoured personnel carriers, in addition to large quantities of weapons and ammunition, and investing in the human element, i.e. the Israeli soldier himself.
The newspaper said that “the failure of the Israeli army in the war on Gaza was not limited to financial losses only, but also included large human losses, with the number of dead and wounded rising, in addition to the suffering of the families and relatives of the wounded, who suffered psychological and mental effects as a result of this war.”
