AMMAN – Economic experts interviewed by Jo24 unanimously
agree that the Israeli economy has suffered a strong and unprecedented blow due
to their genocidal campaign in Gaza.
اضافة اعلان
The high spending on the war is predicted to raise the
budget deficit, reduce its credit rating, and decrease its growth rates with
economic expert and analyst Mohammed Al-Bashir
estimating the cost of the war to be 50 billion dollars.
Experts estimate that the occupation's budget deficit will
rise by 24 percent due to increased military spending and the suspension of
economic sectors' production. This is in addition to importing food from
abroad, as it was previously produced locally in the
Gaza Strip. Unemployment
rates are expected to rise to at least 10 percent due to the migration of
companies that invest there.
Economic expert and analyst Hussam Ayash stated that the
economic conditions Israel is facing are unprecedented since the establishment
of the Zionist entity, with the economy reaching a state of complete paralysis
due to the war and a 75 percent decline in agricultural products.
Ayash said that the most affected sectors due to the war are
the industrial sector, information technology, and tourism. This has led to a
50-60 percent increase in the cost of living, which continues to rise.
He explained that the
direct economic results are much
larger than what the occupation announces. With about 7.8 billion dollars
borrowed from abroad, obtained with high interest and placed under credit
surveillance after its rating was reduced from stable to negative. The growth
deficit was at 2.4 percent, and it will decrease by at least 24 percent,
raising poverty and unemployment rates, putting a greater burden on the
treasury.
Ayash pointed out that the deficit rate was estimated at 7.5
percent, and after the increase in military spending, it will rise by 400
percent due to the high spending on the war, the decline in tax revenues, the
halt of the production wheel, and the decline in growth rates.
Economic expert Munir Diya stated that the occupation's
economy was immediately affected by the decline in the market value of Israeli
companies' stocks by 8 percent on the first day of the war. This trend
continues until today, estimating the nominal losses of stocks at about 20
billion dollars weekly for companies and banks.
Diya said that the prolonged duration of the war contributed
to the significant losses to the occupation's economy, warning of a catastrophe
in the Tel Aviv stock market after estimating losses at 100 billion dollars.
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