The Israeli Central Bank: The Gaza war cost $58 billion and we will enter into inflation

The Israeli Central Bank revealed the extent of the losses incurred by the Israeli economy since the beginning of the war it launched in the Gaza Strip, which has continued for more than two months in a row.

The governor of the Israeli Central Bank said that the costs of the Gaza war are more than $58 billion, pointing out that if Israel enters a long path of increasing debt, this will lead to raising interest, devaluing the currency, and inflation.

This comes after the Central Bank of Israel announced a reduction in interest rates by a quarter of a percentage point from 4.75% to 4.50%. 

On the other hand, the American newspaper "Washington Post" reported in a report that the Israeli war on the Gaza Strip since October 7 has cost Israel about 18 billion dollars so far, and considered that its effects may exceed the period of closure during the Corona pandemic in 2020.

The Washington Post added in a report that the Israeli army has been incurring daily losses amounting to about $220 million since the start of the war, noting that these losses affected the budget of the fourth quarter of last year by $19 billion, and may reach $20 billion in the first quarter of this year. Year 2024.