’Israeli’ New Nightmare: Boycott to Cost 10.5 per Year

Local Editor

"Israel's" economy could lose up to NIS 40 billion [$10.5 billion] per year and thousands of settlers could lose their jobs if the Zionist entity is subject to a full international boycott, according to an "Israeli" Finance Ministry report unveiled last week after a two-year battle.

The six-page report, completed in mid-2013, warns damage from an international boycott could range from approximately half a billion shekels [$130 million] per year and up to 500 people losing their jobs, to NIS 40 billion and 36,500 firings, depending on the scope of the boycott and its rate of adoption around the world.

A report by the Rand Corporation released last month showed "Israel" could lose $9 billion annually in the absence of any so-called "peace" deal and $50 billion over 10 years.

The release of the report comes as "Israeli" officials have expressed increasing alarm over boycott by pro-Palestinian activists.

According to a report in Hebrew-language business paper Calcalist on Tuesday, "Israeli" Finance Ministry economists presented five different scenarios for an international boycott, and examine the potential effect of each of the scenarios on "Israel's" economy, its exports and the number of workers in the market.

If the diplomatic boycott of "Israel" sees moderate growth - leading to voluntary boycotts by European countries, chain stores or consumer organizations of goods produced in West Bank settlements - the damage to the market could reach some half a billion shekels per year, and approximately 430 people could subsequently lose their jobs.

On the other hand, a stronger boycott of all West Bank products by all EU states could also affect products made inside the Occupied 1984 territories.

In an extreme scenario, where the EU boycotts all "Israeli" products and stops foreign investments in the country - sanctions similar to those imposed on Apartheid South Africa - 36,500 "Israelis" would be jobless and "Israel" would lose NIS 40 billion in revenue annually.

"Israeli" economists define the last scenario as the most extreme, but warn extreme scenarios have often arisen due to hard-to-predict developments, and local and limited boycott initiatives could quickly escalate to far-reaching, official sanctions.

Source: News Agencies, Edited by webiste team