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19 Massive marches in Taiz show solidarity with Gaza, Lebanon
[22 November 2024]
Marches, mass vigils under slogan “With Gaza and Lebanon: The Blood of Martyrs Creates Victory” in Al-Bayda
[22 November 2024]
Students rally in solidarity with Palestine, Lebanon in Sana'a
[22 November 2024]
A Million-Strong Rally in Capital Sana’a for March “With Gaza and Lebanon: The Blood of Martyrs Creates Victory”
[22 November 2024]
Large crowd in Sa'ada hold in 29 marches under slogan "with Gaza, Lebanon, blood of martyrs creates victory"
[22 November 2024]
 
  International
Iran: Second phase of "To Quds" exercise begins in Khuzestan
[22 November 2024]
Three settlers injured as result of stampede towards shelters after Hezbollah shelled Haifa
[22 November 2024]
Complex operation of Al-Qassam against Zionist enemy in city of Rafah
[22 November 2024]
Four Italian soldiers injured in southern Lebanon in Zionist shelling
[22 November 2024]
Gaza ministry of health warns of hospitals shutting down within two days
[22 November 2024]
 
  Reports
With new veto US proves it is key partner in Zionist genocidal war on Gaza
[21 November 2024]
Selling by weight.. An important step to regulate and develop poultry sector and serve citizen
[19 November 2024]
Settlement Negotiations: Enemy's Conditions Suspend Any Ceasefire Agreement in Gaza and Lebanon
[19 November 2024]
Emirati efforts to turn Socotra Island into spy base: Report
[17 November 2024]
Arab Shame Summit in Riyadh... A hollow statement & disappointing outcomes
[16 November 2024]
 
  US-Saudi Aggression
US-British aggression targets capital Sana'a
[09 November 2024]
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]
  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 :Fri, 22 Nov 2024 18:33:57 +0300