Media: Gaza War Pushes Israelis into Poverty
Last Updated on December 18, 2024 6:54 am
The Israeli media has admitted that a quarter of the population of Zionist Israel has been pushed into poverty due to the Gaza war.
According to a report in the Israel Hayom newspaper on Monday, according to the annual poverty line report, 25 percent of the people of the State of Israel are currently living below the poverty line. This critical economic situation has arisen after 14 months of war and there is a threat of social breakdown in the occupied territories.
Economic Collapse and International Forecast
On November 16, the global ratings agency S&P reported that Israel’s economic growth will be 0% in 2024. As a result, the gross domestic product (GDP) per capita will decline significantly. The budget deficit is forecast to reach 9 percent of GDP by the end of 2024 and remain at 5-6 percent until 2027.
At the same time, the country’s public debt rate will reach 70 percent by 2027, up from just 12 percent in 2023.
S&P also said that the cause of this economic decline is the ongoing devastating war on Gaza.
Opinion poll results
Meanwhile, a recent opinion poll showed that 45 percent of Israeli citizens fear that their economic situation will become even more difficult in the final stages of the war or later.
The Gaza war has had a profound impact on Israel’s economy and society. The cost of the war, military operations, and political and economic instability in the occupied territories have combined to put the Israeli people in extreme crisis. Source: Israel Hayom and IRNA