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The financial burden of the Israel-Hamas war is beginning to take its toll, sparking a political debate in Israel that will be tough for Prime Minister Benjamin Netanyahu and his finance minister, Bezalel Smotrich, to navigate.
The conflict is costing the Israeli economy around $260 million every single day, according to the finance ministry’s estimates. That’s more than Israel expected when war broke out in early October. The government is having to spend more on everything from weaponry to wages for the hundreds of thousands of reservists it called up as the military operation in Gaza continues. At the same time, fiscal revenues are dropping because tourism and household consumption, among others, are slumping.
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