War on Gaza is costing Israel an estimated $51B

Half on defense expenses

gaza israel tanks
(Photo: Twitter/X)
TEL AVIV — According to an Israeli newspaper, preliminary figures from the Israeli Ministry of Finance show that the war on Gaza is expected to reach approximately 200 billion shekels, equivalent to $51 billion. اضافة اعلان

The newspaper stated that the cost estimate, which equals ten percent of the gross domestic product, is based on the possibility of the war lasting from 8 to 12 months with Gaza as the primary target, without full involvement of Hezbollah, Iran, or Yemen. It also considers the rapid return of around 350,000 Israeli reservists to work soon, Al-Mamlaka TV reported.

Furthermore, it added that half of the cost would be in defense expenses, amounting to nearly 1 billion shekels or around $254 million daily.

The cost of revenue losses is expected to range between 40 to 60 billion shekels, equivalent to $10 million to $30 million.

Israeli Prime Minister Benjamin Netanyahu stated on Thursday that Israel is committed to assisting all those affected. He added, "My instructions are clear...Open the taps and direct the funds to those who need it," without specifying specific numbers.

He continued, "Just as we did during the past decade, we built a very strong economy here, and even if the war imposes economic losses on us, as it does now, we will pay them without hesitation."

Following the outbreak of the war on Gaza, Standard & Poor's credit rating agency downgraded its outlook for Israel to "negative," while Moody's and Fitch placed Israel's ratings under review for potential downgrades.

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