Gaza, Lebanon, Yemen, and Iraq raise the Israeli debt to 70%
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The Israeli Ministry of Finance confirmed that the government spending on “funding the war with Hamas and the fight against Hezbollah” reached about 100 billion “shekels” (30 billion dollars) in 2024.
According to the Times of Israel, the total government debt of the occupation rose from 1.13 trillion “shekels” in 2023 to 1.33 trillion “shekels” in 2024.
As a result, the ratio of public debt to gross domestic product, a basic measure of economic and financial health, rose to 69% at the end of last year, with the inflation of borrowing needs and their costs to finance the war effort, according to ministry data.
The debt level also rose to GDP from 61.3% in 2023, rising by a cumulative 9% over the past two years.
This comes in light of the repercussions of the war on Gaza and Lebanon, in addition to the Iraqi front and the Yemeni blockade imposed on Israeli navigation, which led to the closure of the “Eilat” port and the rise in prices and the cost of living in the Zionist entity.