- Total News Sources
- 5
- Left
- 3
- Center
- 2
- Right
- 0
- Unrated
- 0
- Last Updated
- 27 days ago
- Bias Distribution
- 60% Left
Israel's economy is facing significant challenges due to its prolonged conflict with Hamas, with Fitch Ratings downgrading its credit score from A+ to A, citing ongoing war and geopolitical tensions as key factors. The Bank of Israel estimates war-related costs could reach $55.6 billion between 2023-2025, leading to potential budget cuts and increased borrowing. GDP growth has sharply declined, from 4.1% in the first quarter to just 0.3% in the second quarter of 2024, marking the largest slowdown among OECD countries. Meanwhile, former Deputy Governor Zvi Ekstein warned of a potential economic catastrophe if Israel becomes embroiled in a multi-front war, predicting a possible GDP decline of 1.5% in 2024. In Lebanon, the ongoing conflict could cost the economy up to $3 billion a month in damages, exacerbating an already fragile financial state. Both nations face dire economic forecasts, with calls for a resolution to the conflicts to mitigate further economic harm.
- Total News Sources
- 5
- Left
- 3
- Center
- 2
- Right
- 0
- Unrated
- 0
- Last Updated
- 27 days ago
- Bias Distribution
- 60% Left
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