Israel's permanent state of war comes with economic, social costs
The enormous costs of Israel’s multi-front war and Prime Minister Benjamin Netanyahu’s determination to turn his country into a “super-Sparta” of the Middle East are driving up the defence budget and raising fears of cutbacks in education and healthcare. The total cost of the series of interconnected regional conflicts that began with Hamas’s attack on Israel on October 7, 2023 stood at 405 billion shekels ($138bn) as of late April, according to the governor of the Bank of Is
Israel's ongoing regional conflicts, initiated by the October 7th attack, have incurred substantial economic costs, estimated at $138 billion as of late April, representing over 17% of the nation's GDP. The defense budget has more than doubled since October 2023, leading to increased public debt and higher taxes and social security contributions.
These expenditures are projected to strain public services like education and healthcare, while also impacting economic growth through the prolonged mobilization of reservists. Many Israelis are experiencing reduced incomes, with the self-employed and lowest-income workers facing the most significant financial strain.
The significant economic burden of sustained conflict threatens to undermine social services and the standard of living for Israeli citizens, potentially creating a "trauma economy" reliant on perpetual security spending.
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