Wartime economy: How resilient will Israel’s economy be this time?

LONDON – The war in Gaza could cost Israel about 10 per cent of its gross domestic product (GDP), one of the country’s senior economic experts has revealed.

In an interview on Nov 20 with Globes, Israel’s leading financial daily newspaper, National Economic Council chairman Avi Simhon said that although Israeli decision-makers do not know how long the war will last, he accepted “the assessment that if negative but possible scenarios materialise”, the Gaza war could cost the Israeli economy 200 billion shekels, the equivalent of S$72 billion.