Israeli Finance Minister Bezalel Smotrich estimated the direct cost of the war on the Gaza Strip at one billion shekels ($246 million) per day.
Smotrich said in an interview with Israeli Army Radio on Wednesday that the 2023-2024 budget “is no longer appropriate” due to the war on Gaza, indicating that it will be amended.
The minister did not appear disturbed by Standard & Poor’s downgrading the forecasts for Israel from “stable” to “negative.”
The minister said that he has not yet assessed the indirect costs on the economy, which has entered a state of partial paralysis due to the mass mobilization of reserve soldiers and intensified Palestinian missile attacks.
Smotrich described Standard & Poor’s lowering expectations to “negative” on Tuesday as “worrying”, but said he did not expect it to create a large deficit in Israel despite the crisis.
He praised the Governor of the Central Bank of Israel, Amir Yaron, because he “spares no effort in his work,” knowing that he was scheduled to step down but extended his term due to the crisis.
But Smotrich did not answer whether Yaron should officially remain in his position or not.
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2023-10-25 08:16:43
