Israel Faces Economic Collapse as it Continues its War on Gaza
Cries have risen from within the Zionist enemy entity about a major collapse in the enemy’s economy since the start of the Al-Aqsa Flood operation, with reports saying major strategic projects have become non-viable.
Multiple sectors have been paralyzed such as construction, factories, airports and various other sectors, while the enemy’s losses in the tourism sector have worsened. The huge military spending is one of many factors contributing to the cost that the Israeli enemy economy will incur, with reports and analyses flooding the Hebrew newspapers expecting the economy of the Zionist enemy entity to suffer enormous economic losses, if not the largest since its establishment.
The newspaper Yedioth Ahronoth spoke of the “biggest economic catastrophe” in the history of the enemy entity, blaming Benjamin Netanyahu’s government directly for the losses incurred by the regime. It accused his government of ignoring the red flags in the economic sector just as it ignored the signals and warnings in the security sphere.
The enemy’s currency saw a sharp decline against the dollar to its lowest level in eleven years, by five percent, in one of the most important metrics reflecting economic risks in the entity despite Washington pumping $45 billion into the regime to protect the currency, according to the New York Times.
According to enemy media, the Tel Aviv Stock Exchange also plunged by over 8%, while the value of government bonds rose by 136% since the start of the aggression. Meanwhile, diaspora bond sales caused losses estimated at $2.839 billion, amid expectations of a rise in public debt which has already reached $274.7 billion, while GDP was $350 billion.
Reports show that the Gush Dan area, the crown jewel of the enemy’s economy and technology industry, has entered a state of major paralysis with losses of over $2 billion so far, due to the missiles being fired at it from Gaza.
On October 9, the enemy’s Ministry of Energy halted production at the most important offshore natural gas field in “Israel”, the Israeli Tamar platform (whose production is around 10.2 billion cubic meters, meeting about 70% of “Israel’s” electricity generation needs), for fear of being targeted. This could cost the energy and gas sector hundreds of millions of dollars per week, according to estimates by Israeli media outlets.
US company Chevron also suspended its activities on the Israeli Tamar gas production platform, after the enemy government asked it to do so, and stopped pumping gas through the East Mediterranean Gas Company (EMG) pipeline under the Mediterranean Sea, which connects the city of Ashkelon in the south of the occupied territories to Al Arish in Egypt.
The tourism and aviation sectors were dealt a severe blow after Ben Gurion Airport near Tel Aviv was bombed, and international airlines suspended their flights concurrently with Ramon and Haifa airports going out of service. Losses to the aviation sector are estimated at around $2 billion, at a rate of $100 million per day.
Additionally, the cost of destruction in Gaza envelope settlements exceeded the $1 billion threshold, while moving two hundred thousand settlers in southern and northern settlements costs around $100 million per week, in addition to war costs estimated so far at around $1 billion per day, or about $22 billion as of October 28, resulting from the war.