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Israel- Hamas war: Central bank estimates total conflict to cost $68 billion
In the aftermath of the ongoing conflict in Gaza, Israel finds itself grappling with the staggering financial aftermath. Data from the finance ministry shows the total cost of conflict at $16 billion. The nation's budget deficit has surged to surpass 7% of its gross domestic product. A significant portion of this expenditure, nearly 36%, has been allocated to defence. Despite efforts to mitigate the fiscal impact, tax revenues have declined by 2.2%, exacerbating the widening fiscal gap.
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