War on Gaza to cost Israel 10% of GDP

The conflict in Gaza will cost around ten per cent of the Israeli Gross Domestic Product (GDP), the Governor of the Bank of Israel, Amir Yaron has said in an interview with Bloomberg TV during the World Economic Forum in Davos.

According to Bloomberg, the state’s estimated GDP for 2024 is $530 billion, with expectations that Israel’s revenues would decline by two per cent.

The central bank has also warned previously that the ongoing attacks on Gaza could keep investors away, with an increasing possibility of devaluation.

In 100 days, the Israeli aggression on Gaza has killed more than 24,000 civilians, at least 10,000 of which are children, AP reported.

According to UNICEF, more than 1,000 children have had an arm or a leg amputated so far.