Watan-The British Financial Times has revealed the economic cost that Israel is incurring due to the deadly and destructive war it is currently waging in the Gaza Strip, which has been ongoing for 43 days.
According to the newspaper’s report, Israel has borrowed six billion dollars in recent weeks through deals negotiated specifically to help finance its war on the Gaza Strip.
According to the Financial Times, Israel has been forced to pay unusually high borrowing costs to complete these deals.
Investors have reported that the recent bonds were issued under the so-called private placements, a process where securities are not offered in the public market but are instead sold to selected investors.
According to investors, the reason for this may be to quickly raise funds for the war effort without attracting unwanted attention.
This could also be a sign of the growing concern among some investors about purchasing Israeli debt.
Huge Economic Losses
The figures reveal significant economic losses for Tel Aviv due to the war it is waging on the Gaza Strip. Most indicators, from the stock market to real estate and banks, have plummeted, along with the depreciation of the shekel and the downturn in the job market and the performance of technology companies.
Study on Reducing Reservist Forces
Concurrently, Israel is considering reducing the number of reservists in the army who have been called up for the war in Gaza due to the high economic cost. The Israeli Broadcasting Corporation reported that the Israeli security apparatus is exploring the possibility of reducing the number of mobilized reservist forces involved in the current war against Hamas and discharging a portion of them.
This consideration comes in light of the high economic cost and the damage inflicted on the Israeli economy due to the absence of these forces from their homes and workplaces.
At the beginning of the war on Gaza on October 7th of last year, Israel announced the mobilization of 360,000 soldiers from the reserves. So far, over 200,000 soldiers from these forces have been deployed.
The Broadcasting Corporation stated that the direct cost of reservist soldiers’ salaries is approximately 5 billion shekels (1.3 billion dollars) per month, in addition to the cost of lost working days for these soldiers, estimated at about 1.6 billion shekels (427 million dollars).
It clarified that the possibility of flexibility in the service of reservist soldiers is being studied, allowing them to return to their work for extended periods.
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