War to cost Israel over $67B, central bank chief says

The ongoing war with Hamas is slated to cost Israel $67 billion in defense outlays, expenditures for civilian needs and lost tax income in the years 2023 to 2025, Israel’s central bank governor Amir Yaron estimates, Report informs referring to The Times of Israel.

Speaking at a conference, Yaron cautions that the security and civilian war costs are “significant” and present a budgetary burden. In addition, the future security budget is expected to grow permanently and have a macroeconomic impact, he adds, warning against giving the military a “blank check.”

“A prosperous economy requires security, and security requires a prosperous economy. Therefore, the war should not bring with it a blank check for permanent defense expenditures, and proper balances have to be found,” Yaron says at a conference at the College of Management Academic Studies.