Economists Say Israel’s War On Gaza Has Cost the Country More Than $60 Billion

Economists Say Israel’s War On Gaza Has Cost the Country More Than $60 Billion
As Israel nears the 11th-month mark of its war on Gaza, the economic costs are starting to show. The latest data points are in, and they paint an economy that is slowing across the board. Second quarter figures show exports and investments being hit hard, mainly due to countries cutting off trade and divesting over Israel's atrocities in Gaza. Despite those warning signs, Israel's attacks are continuing unabated.
Israel's Central Bureau of Statistics said that the country's GDP grew by just 1.2% in the April-June period. But on a per capita basis, GDP shrank both compared to the previous quarter and to the corresponding quarter last year. The war in Gaza has also curbed consumer spending in Israel, as food prices are on the rise. After Turkiye halted trade with Israel for its blocking of humanitarian aid into Gaza, fruit and vegetable costs have soared in the country. The latest figures come as Israel and Hezbollah exchanged fire over the weekend, raising fears of a wider regional war.