“Israel” to Amend Budget as Gaza War Direct Cost at $246 Million Daily

By Staff, Agencies

The “Israeli” entity’s so-called Finance Minister Bezalel Smotrich said on Wednesday the 2023-24 budget was “no longer relevant” given the aggression on Gaza and would be amended, and sounded unfazed by S&P Global's downgrade of the entity’s outlook to “negative” from “stable”.

While putting the direct cost of the war at around $246 million a day to the “Israeli” entity, Smotrich said in an Army Radio broadcast that he did not yet have an assessment of the indirect costs on an economy partly paralyzed by the mass mobilization of military reservists and extensive Palestinian rocket salvoes.

Smotrich described the S&P downward revision from “stable” published on Tuesday as “alarmist” and said he did not anticipate major “Israeli” deficits despite the crisis.

He praised Bank of “Israel” Governor Amir Yaron, who was due to have stepped down but extended his tenure due to the crisis, for “functioning above and beyond”. But Smotrich would not be drawn on whether Yaron should be formally kept in office.

“We don't have time to breathe, so we're not dealing with this [question] now,” he said.