Israel: Gaza war costed $34 billion ...Iraq

The ministry also reported a budget deficit of 19.2 billion shekels ($5.2billion) in December, citing rising expenses to fund the wars with thePalestinian Islamist movement Hamas in Gaza and Hezbollah in Lebanon.

Tax revenues increased by 27.6% in December and by 7.3% in 2024.

Fitch maintained a negative outlook for Israel’s rating, signaling thepossibility of another downgrade, according to Bloomberg.

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