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The Central Bank of Israel said – today, Thursday – that the Israeli economy is incurring 2.3 billion shekels ($600 million) per week, due to the shortage of the workforce, which was greatly negatively affected during the war with the Palestinian Islamic Resistance Movement (agitation).
The Central Bank explained that these costs result from the closure of many schools across the country and the evacuation of about 144,000 workers from areas near the border with… Gaza And Lebanon, in addition to calling up reserve soldiers for service.
Yesterday, Wednesday, I mentioned Globes newspaper The specialist in Israeli economic affairs said that the monthly report issued by the Israeli Employment Department indicates that the number of Israelis who applied to be registered as unemployed last October amounted to about 70,000.
The Israeli Central Bank said that foreign reserves decreased by $7.3 billion last October to reach $191.2 billion, at a time when the bank seeks to support the shekel after the start of the war on Gaza.
The Bank of Israel said – a few days ago – that it sold $8.2 billion in foreign exchange last October.
With the beginning of the aggression on Gaza – more than a month ago – the Israeli Central Bank launched a program worth $30 billion to sell foreign exchange to prevent a sharp deterioration in the shekel exchange rate. This is the first time ever that foreign exchange has been sold.
Israel’s budget deficit jumped last October by 397% on a monthly basis, against the backdrop of increased expenses for the Israeli war on Gaza, following Operation “Al-Aqsa flood“.
The Israeli Ministry of Finance said – in a statement yesterday – that the fiscal deficit last October amounted to about 23 billion shekels ($6 billion), up from 4.6 billion shekels ($1.2 billion) in the previous September, and attributed this to a rise in Expenditures to finance the war on the Gaza Strip.
