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Science & Technology Applied College in Dhamar celebrates 157 students graduation
[02 November 2024]
Sana'a witnesses military march
[02 November 2024]
Judicial Inspection Authority Conducts Field Visit
[02 November 2024]
Al-Rahawi offers condolences to Deputy governor of Mahwit
[02 November 2024]
Enhancing development services in Bayda
[02 November 2024]
 
  International
Gaza government media: Enemy bombed & destroyed 254 housing units in 48 hours
[02 November 2024]
Palestinian injured by enemy fire & ten citizens arrested from al-Fawwar refugee camp
[02 November 2024]
Enemy injures Palestinian with bullets near Bethlehem, storms Jalbun & closes its entrances
[02 November 2024]
Demonstrations in cities & capitals around world to denounce Zionist aggression against Gaza Strip
[02 November 2024]
Death toll from Zionist aggression on Gaza Strip risen
[02 November 2024]
 
  Reports
Hezbollah resistance rifles prevented Zionist enemy from achieving its goals: Report
[02 November 2024]
Prohibition of UNRWA activities in occupied Palestinian territories sets perilous precedent, signals significant humanitarian disaster
[31 October 2024]
The war on Gaza. The disintegration of global Zionism and the demise of international legitimacy
[31 October 2024]
Zionist enemy persists in committing massacres, genocide in Gaza, Lebanon​
[31 October 2024]
Naim Qassem election as Hezbollah's Secretary General: Confirmation of Hezbollah's success in restoring its organizational structure
[29 October 2024]
 
  US-Saudi Aggression
US-British aggression launches raid on Hodeida
[31 October 2024]
US-British aggression target Sana'a & Saada with 15 raids
[17 October 2024]
Military Media distributes scenes of down US MQ-9 aircraft in Dhamar
[16 September 2024]
Abdul Salam: Targeting civilians, educational facilities by US-British aggression is dangerous escalation
[10 September 2024]
Number of female students in Al-Jand School in Taiz martyred & injured by US-British aggression warplanes raid
[10 September 2024]
  Economy
Bloomberg​: War on Gaza & Lebanon Weakens Israeli Economy
Bloomberg​: War on Gaza & Lebanon Weakens Israeli Economy
Bloomberg​: War on Gaza & Lebanon Weakens Israeli Economy
[Sat, 02 Nov 2024 18:38:44 +0300]


Washington - Saba: The American agency "Bloomberg" confirmed that the Israeli government, amid its ongoing war on Gaza and Lebanon, has approved the 2025 budget, paving the way for increased military spending and higher taxes.

The agency noted that the 2025 budget, which focuses on more military spending, reflects a deep shift in priorities since the war began over a year ago. It added that "military spending, which accounts for about six percent of GDP, will reflect Israel's new priorities in wars."

It pointed out that this level of spending, reaching "six percent of GDP," is significantly higher than the 4.2 percent in 2022 and the OECD average of 1.7 percent.

The agency explained that "the war in Gaza and Lebanon, along with rising tensions with Iran, has weakened Israel's economy and finances, forcing Benjamin Netanyahu's government to focus on curbing the budget deficit."

It added that the deficit target for next year has been set at 4.3 percent of GDP, with military spending being the largest among all ministries, totaling 117 billion shekels. This is similar to the 2023 level but is 80 percent higher than the pre-war plan for 2024.

The agency recalled a statement from Israeli Prime Minister Benjamin Netanyahu, who said before the budget discussions, "There is no economy without limits; if you give somewhere, you need to take from somewhere else," using this to justify continued war funding while neglecting other areas.

While many Israeli analysts expected the government to focus on medium- and long-term growth drivers to support economic recovery from a prolonged war, according to "Bloomberg," Israeli Finance Minister Bezalel Smotrich stated that the budget "lacks reforms" and "focuses on a set of measures aimed at reducing the targeted deficit and long-term debt-to-GDP ratio."

The Israeli site "Globes" confirmed the "high costs of war and supply issues caused by expected tax increases in 2025 and wage hikes, all of which are driving prices up in Israel."

According to the site, "Bank of Israel" had to acknowledge this, and in its latest announcement on interest rates, it predicted that the annual inflation rate would reach 3.8 percent by the end of this year, and that interest rates would not decrease in the near future.

It added: "While financial markets around the world are working to exit a period of high inflation, Israel is moving in the opposite direction."



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UPDATED ON :Sat, 02 Nov 2024 21:24:50 +0300