Israel Raises $60 Billion Debt to Double War Spending
“Israel’s” Finance Ministry’s Accountant General, Yali Rothenberg, has revealed that the occupation entity is gearing towards managing the rather heavy economic crisis looming over “Tel Aviv” in the wake of its ongoing onslaught rampage against Gaza that has now killed more than 30,000 Palestinians since Oct 7, 2023.
“The economic fundamentals are there,” Rothenberg told Financial Times. “If you look at the high-tech sector, it’s there. If you look at the infrastructure investment, it’s there. If you look at the private consumption, it’s there.”
The Israeli regime is seeking to raise $60 billion in debt this year alone, alongside freezing government hiring and raising taxes because it has almost doubled its war spending.
According to sources, this came as a result of the occupation entity “mobilizing its 300,000 reservist forces, over 100,000 settlers displaced in the north and south, a decrease in consumer spending, and the 150,000 Palestinian laborers who have been barred from entering Israel from the Occupied West Bank.
Rothenberg further claimed that the reservists could potentially assist the economy, stating that around 60,000 reservists were still carrying out acts of terror in Gaza.
The Israeli government is also planning on increasing defense spending by $15 billion, marking an 85% increase in defense spending, from 13% of the national budget before their war against Gaza to 20% in 2024.
In the beginning of the Israeli regime’s War on Gaza, Tel Aviv borrowed $22.2 billion, which soared the debt-to-GDP ratio up to 62 percent, the highest for the entity, in eight years.
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