SANA'A May 14. 2024 (Saba) -The Zionist enemy entity suffered heavy losses and damage at all levels, and various economic and commercial sectors, markets and branches of labor suffered heavy financial losses, due to the confusion in the various economic measures and the policies of the Netanyahu government in the aggression and genocidal war on the Gaza Strip.
The enemy army's genocidal onslaught on the Gaza Strip, just eight months prior, thrust the Zionist economy into a dire recession. Moreover, the Zionist currency, the shekel, plummeted by over six percent against the United States dollar.
Within the Zionist adversary's occupied territory, the production sector suffered a sharp decline in growth and manufacturing activities, alongside dwindling goods supplies. This scarcity stemmed from a labor shortage exacerbated by the mobilization of the occupation army, swelling to 350 thousand soldiers for reserve duty.
At the pinnacle of energy security, the usurping entity bore the brunt of its losses both internally and externally, as the onslaught effectively halted several Zionist energy initiatives.
The Zionist assault on the Gaza Strip precipitated the mass exodus of approximately 250,000 Zionists from their settlements in the south and north—40 percent of whom remain displaced to this day—lodged in 438 hotels and evacuation centers, incurring a staggering cost of $1.8 billion according to Zionist data.
Over six months have elapsed since the aggression, plunging the Zionist economy into near-total collapse and paralysis, marked by substantial downturns in construction, real estate, industries, agriculture, and domestic tourism. The relentless escalation of the brutal conflict has further strained the general budget of the Zionist entity, yielding a deficit equivalent to 6.6 percent of GDP, as per Zionist reports.
Despite mounting inflationary pressures, with rates reaching 2.5 percent and anticipated to surge to 2.7 percent by year's end, the Zionist adversary's government persists in its profligate spending on the aggressive war, maintaining the economy's bank interest rate at an unyielding 4.5 percent.
Economists pin the deepening crevasse in the Zionist budget, now towering at 6.2 percent of the gross domestic product, poised to escalate to 6.6 percent by the close of 2024, squarely on the lavish government expenditure fueled by the bellicose warfare and misguided economic policies of the Zionist foe.
The Zionist economy reels under the cascading aftershocks of mass reserve enlistment, compelling hundreds of thousands into service, alongside the forced exodus of Zionist settlers from the "Gaza envelope," the western Negev, and the Lebanese border, disruptions cascade across educational institutions, economic establishments, and the vibrant tourism, restaurant, café, and entertainment sectors alike.
Ben Gurion Airport, once bustling with vitality, bore the brunt of the economic upheaval from October 2023 to March 2024, witnessing a stark plummet in international flight traffic, dwindling from approximately 70,000 flights in the corresponding period of 2022/2023 to a mere 38,500, as per enemy crossing and airport authorities.
As the Gaza Strip faced the onslaught, scores of international airlines suspended operations within the occupation entity, axing hundreds of daily flights to Ben Gurion Airport.
The resultant nosedive in airport activity is glaring, with passenger numbers dwindling to a meager 4.3 million since the onset of aggression on October 7, 2023, a stark contrast to the 10.1 million recorded between October 2022 and March 2023.
Prior to the "Al-Aqsa Flood" skirmish, an overwhelming majority of economic enterprises and small to medium-sized commercial ventures within the usurping entity languished in stasis, sapped of vitality as all governmental resources and budgets were diverted and deployed for belligerent ends.
The Zionist economy was thrown into disarray, reeling from substantial losses. Figures from the Bank of the Occupying Entity and the Zionist Ministry of Finance grimly illustrate the staggering toll of aggression, soaring to over 270 billion shekels ($73 billion) from October seventh until the conclusion of March 2024 alone.
Official Zionist records unveil the stark reality of the war's financial toll, clocking in at a chilling one billion shekels per diem ($270 million) from October 7th until the twilight of December 2023, gradually dwindling throughout 2024 to a still-astronomical 350 million shekels ($94 million) per day.
In the wake of the economic aftershocks wrought by the aggression, the Zionist enemy government found itself compelled to expand the general budget for 2024, ballooning to 584 billion shekels ($158 billion), marking a robust 14 percent surge compared to the initial spending ceiling delineated in the 2023 biennial budget.
In a bid to grapple with the exorbitant price tag of the military campaign and forestall a ballooning deficit within the Zionist Ministry of War's general budget, allocations to the ministry were beefed up by an additional 30 billion shekels ($8.1 billion), catapulting the total security budget amidst the aggression to approximately 100 billion shekels ($27 billion).
Amidst spiraling military expenditures and direct blows to the Zionist economy, the usurping entity's debt burden soared, scaling to 62 percent of the occupation's gross domestic product, a marked escalation from the 59 percent recorded in the 2022/2023 fiscal year.
As of the close of last March, the budget deficit ballooned to 6.2 percent of the gross domestic product, with projections indicating a further surge to approximately 6.6 percent by the conclusion of 2024, as per Zionist data.
Since the onset of this year, a cumulative deficit of 26 billion shekels (seven billion dollars) has been tallied in the general budget. Notably, over the past twelve months, this deficit has skyrocketed to a historic pinnacle of 117.3 billion shekels (31.7 billion dollars), marking the highest deficit ever recorded in the nation's annals.
Regarding the toll of the internal front's exposure to Zionist aggression amidst the missile barrage launched by Palestinian resistance factions, estimates by the Zionist Tax Authority underscore the staggering direct damages inflicted upon buildings and facilities in the "Gaza Envelope" settlements, soaring to 1.5 billion shekels ($405 million).
As of the close of last March, the budget deficit ballooned to 6.2 percent of the gross domestic product, with projections indicating a further surge to approximately 6.6 percent by the conclusion of 2024, as per Zionist data.
Since the onset of this year, a cumulative deficit of 26 billion shekels (seven billion dollars) has been tallied in the general budget. Notably, over the past twelve months, this deficit has skyrocketed to a historic pinnacle of 117.3 billion shekels (31.7 billion dollars), marking the highest deficit ever recorded in the nation's annals.
Regarding the toll of the internal front's exposure to Zionist aggression amidst the missile barrage launched by Palestinian resistance factions, estimates by the Zionist Tax Authority underscore the staggering direct damages inflicted upon buildings and facilities in the "Gaza Envelope" settlements, soaring to 1.5 billion shekels ($405 million).
The Tax Authority’s reports unequivocally reveal that the total value of indirect damages and compensation for individuals impacted by the settlements of the Cover and the Western Negev surged to 12 billion shekels ($3.35 billion). This encompasses substantial losses and damages inflicted upon sectors such as agriculture, domestic tourism, entertainment, restaurants and cafes, and light industries.
Estimates suggest that initial losses in northern occupied Palestine resulting from Hezbollah missiles stand at approximately two billion shekels ($540 million). This figure stems from the extensive damage inflicted upon more than 500 residential, agricultural, industrial, and commercial facilities, a possibility underscored by reports from the Yedioth Ahronoth newspaper.
Zionist records reveal that 65,032 individuals had compensation files initiated for injuries sustained during what they term as “war and hostilities.” A staggering sum of around 22 billion shekels ($6 billion) was disbursed in compensation, alongside an additional 4.2 billion shekels ($1.1 billion) designated for increased reserve service costs due to absenteeism from work.
In March alone, the Zionist enemy government expended a colossal 56.5 billion shekels. Cumulatively, expenditures since the start of the year have soared to 147 billion shekels ($39.7 billion), marking a substantial 38.1% increase from the first quarter of 2023, which only saw outlays of 106.5 billion ($28.7 billion).
Estimates from Zionist enemy media peg the expenses of Zionist aggression since the year's commencement at over $7.5 billion, with a noteworthy 12.2% uptick in expenditures specifically earmarked for aggression.
The construction and infrastructure sector within the Zionist occupation entity experienced near-total paralysis following the government’s freeze on work permits for approximately 80,000 Palestinian workers from the West Bank. Daily losses in the construction sector are estimated at around $40 million, resulting in significant losses to banks as profits plummeted. Real estate loan volume for apartment buyers in 2023 reached a mere $19.2 billion, marking a stark 39.6% decrease from 2022. This figure represents the lowest volume of new real estate loans since 2019, when they totaled $18.2 billion.
H.H
resource : Saba
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