HomeGlobal Defence UpdatesIsrael's cost of war: $14 billion, tripling deficit

Israel’s cost of war: $14 billion, tripling deficit

msid 106274016,imgsize

JERUSALEM: Israel’s war with Hamas in Gaza will likely cost it at least another 50 billion shekels ($14 billion) in 2024 and result in a near-tripling of its budget deficit, the finance ministry said on Monday, projecting that fighting will last through February.

Briefing lawmakers, the ministry’s deputy budget commissioner Itai Temk in said the war was expected to stretch at least two months into 2024, adding 30 billion shekels for security and another 20 billion for civilian and other expenses.

That, he told the Knesset Finance Committee, would drive uptotal defence spending by more than 48 billion shekels beyond what had initially been allocated.

Total budgetary spending in 2024 would rise to 562.1 billion shekels from a planned 513.7 billion and lead to a budget deficit of 5.9% of gross domestic product or GDP up from a target of2.25%.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat

All

Defence Ministry set to clear โ‚น70,000 crore frigates’ order

New Delhi: The defence ministry is set to clear a mega โ‚น70,000 crore order for new warships for the Indian Navy. The stealth frigates...

Zen Technologies launches AI-powered robot for global defense market

Zen Technologies, an anti-drone technology and defence training solutions provider, in collaboration with its subsidiary AI Turing Technologies on Monday introduced AI-powered robot Prahasta,...

AMCA 5th Generation Stealth Fighter Updates

AMCA to be integrated with sophisticated indigenous Distributed Aperture System (DAS) that making it a formidable air asset for the Indian Air Force

Source : IgMp Bureau Indiaโ€™s Advanced Medium Combat Aircraft (AMCA) is on the brink of a revolutionary transformation with the integration of a sophisticated Distributed...

AMCA to incorporate the best features of both 5th and 6th Generation fighters: ADA sources

Source : IgMp Bureau India's strides toward indigenous air dominance receive a substantial boost with the green signal for the Advanced Medium Combat Aircraft (AMCA)...

Most Popular

Recent Comments

Archive Months

Miscellanous

China: ‘No role’ for China in Pacific policing, Australian minister says

Australia's Pacific Minister Pat Conroy said there should be "no role" for China in policing the Pacific Islands, and Australia will train more local...

WATCH: Applause, garlands for NDRF team flying home after Turkey earthquake rescue at Adana Sakirpasa Airport in Turkey

Source : MintNDRF team at Adana Airport in Turkey, returning to India after rescue work from Turkey. (Image Source: NDRF and ANI)Ten days after...

โ€œExercise will get as real as it can beโ€: Captain Shobhit Mishra as IAF gears up for Exercise Vayushakti 2024

SOURCE: ANI The preparations of the Indian Air Force for โ€˜Exercise Vayushakti 2024โ€™ are in full swing. It will take place on February 17 and...
Visits
error: Content is protected !!