“Israel’s” War Debt is Soaring

By Staff, Agencies 

“Israel’s” Finance Ministry revealed on Monday that the entity has raised about 30 billion shekels [$7.8 billion] in debt since the start of its aggression on Gaza. 

According to the ministry, $4.1 billion of that amount was dollar-denominated debt raised in issuances in international markets.

On Monday, the ministry reportedly raised another $957 million in the local market in its weekly bond auction. Officials claimed that the government can now “fully and optimally finance all its needs.”

The “Israeli” government has significantly increased expenses in order to fund the military and to compensate businesses near the border with Gaza, as well as the families of victims and hostages taken by Hamas. All of this has led to a record budget deficit, which last month ballooned to $6 billion, a more than sevenfold increase compared to one year ago.

The Finance Ministry has also announced plans to borrow 75% more in November than last month. Meanwhile, ‘Bank of Israel’ Governor Amir Yaron has called on the government to balance “supporting the economy and maintaining a sound fiscal position.”