![Artistic Representation of Israeli occupation soldiers in front of chests filled with US Dollars. Photo: Al-Carmel News](https://orinocotribune.com/wp-content/uploads/2023/12/Economic-Costs-of-Al-Aqsa-Flood.webp)
Artistic Representation of Israeli occupation soldiers in front of chests filled with US Dollars. Photo: Al-Carmel News
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Artistic Representation of Israeli occupation soldiers in front of chests filled with US Dollars. Photo: Al-Carmel News
Al-Carmel Editorial Team – Dec 17, 2023
Since the start of the Al-Aqsa Flood Operation on October 7, 2023, economic experts anticipated a substantial impact of the war on the “Israeli” economy. Indeed, figures released by “Israeli” newspapers and media revealed significant economic losses compared to previous wars waged by the enemy. However, this wasn’t surprising.
The negative economic indicators of the occupying entity are deemed “natural consequences,” as markets and economic estimations are affected by general conditions in any country, especially during periods of instability, whether financial, security-related, or social. The instability resulting from a war initiated by the enemy, particularly one of the longest and most perilous in its history, exacerbates these effects.
Moreover, discussions about an economic and financial crisis, along with warnings of capital and emerging companies fleeing the occupied territories, preceded the war on Gaza. Since the disputes regarding amendments aiming to curtail the powers of the “Israeli” Supreme Court and restructure the judiciary, leading to deep divisions among “Israeli” parties and various factions, concerns escalated about the political crisis affecting the economic situation within the entity.
Today, there seems to be little left of the warnings about an economic collapse. All fears regarding the loss of capital and its repercussions on financial markets and currency value have receded. It appears as if the current economic situation is the “smallest misfortune” for the zionist entity right now.
This can be attributed to several reasons:
Haniyeh Says Resistance Stands ‘Strong, Resolute’ as Israel Says Ready for Ceasefire
Why does this matter?
Relying on an economic collapse in the entity to halt the war is a form of “selling an illusion” to the public. The only things that can halt the war are the resilience of the people of Gaza, the capability of the Resistance to prevent the entity from achieving its goals, the support Gaza might receive from the West Bank or from fronts in Yemen, Lebanon, and Iraq, or fundamental changes in public behavior in Jordan and Egypt and in other Arab normalization countries, as well as in Islamic countries allied with “Israel” or having good relations with it.
“Israel’s” losses according to the Israeli Central Bank since the beginning of the war:
Solutions to all these problems for “Israel” originate from the United States. The occupation government awaits financial “aid” packages from Washington, which have not yet received congressional approval due to political tensions within the United States.
Since the beginning of the war until the present:
The value of the “israeli” currency, shekel, rose from 4.08 shekels per USD at the start of the war to 3.7 shekels per USD currently.
Given this reality, it should be understood that the steadfastness of resistance in Gaza, the emergence of regional forces ready to support resistance in Palestine, and a decline of Jewish migration to occupied Palestine by 70% between October 7 and November 29, all pose more dangerous consequences for the entity than economic and financial losses which the West can compensate.
Translation: Orinoco Tribune
OT/DZ/SC