Israel faces record costs in longest conflict
The cost of the war initiated by Israel in October 2023 against Gaza is now approaching half a trillion shekels (approximately $135 billion), with expectations that costs will increase further in the coming years, especially as Israel's national debt has risen by 400 billion shekels and military spending could potentially exceed 1.5 trillion shekels ($500 billion) over the next decade. The war has led to the mobilization of large numbers of reserve soldiers, resulting in fatigue among the troops and increased expenses, in addition to shortages of ammunition and the allocation of substantial financial resources—all without prior economic planning. The escalation of the conflict has also caused Israel's credit rating to be downgraded, necessitating tax increases and austerity measures, amid warnings of declining purchasing power and slowed economic growth. Meanwhile, the violations in Gaza have triggered a wide-ranging humanitarian crisis.
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