The war with Hamas costs the Israeli economy $600 million a week

Many workers are out of work because of the war with the Hamas group, which costs the Israeli economy an estimated 2.3 billion shekels ($600 million) a week, or about 6 percent of GDP.

This is stated in a study by the Bank of Israel, reports "The Times of Israel".

The report estimates weekly spending for the first three weeks of the war, which began on October 7. The decrease in labor supply is explained by the mass mobilization of reserve soldiers, the evacuation of residents of the southern and northern regions, as well as the closure of the education system, which complicates the work of parents.

The cost calculation includes 1.25 billion shekels due to the complete closure of educational institutions, 590 million shekels due to the absence from work of 144 000 evacuated residents from war-affected areas, and about 500 million shekels due to the mobilization of 360 000 reservists.

• Israel conducts the military operation "Iron Swords" in the Gaza Strip in response to the attack of the groups Hamas and "Islamic Jihad" on the south of Israel on October 7. Then, as a result of the jihadist attack, 1 400 civilians were killed, and almost 250 people were taken hostage and taken to Gaza. More than 250 IDF soldiers also died.
• Israeli troops officially entered the northern territories of the Gaza Strip on October 28. A new phase of the war was announced that day. On November 2, army engineers began a large-scale operation to destroy Hamas tunnels, and on November 5, Israeli forces announced that Gaza City was completely surrounded.
• On October 14, Ukraine began evacuating its citizens who are in Israel. Then 207 citizens of Ukraine, including 63 children, flew from Tel Aviv to Bucharest. The second evacuation plane with 155 citizens of Ukraine left Israel on October 16. On the same day, a third evacuation flight took place with 74 Ukrainians on board. For the fourth time, 79 citizens of Ukraine were taken from Israel to Romania by charter flight.