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War with Hamas doubles Israel's debt raising in 2023

Israel raised 160 billion shekels ($43 billion) in debt in 2023 - half of it, 81 billion shekels, since the outbreak of the war in October, the ministry said in a report.

Accountant General Yali Rotenberg said that 2023 was a challenging year that required a sharp increase in financing needs and “required tactical and strategic adjustments” in the government’s debt raising plan.

“Despite the many uncertainties and challenges, the ability to raise debt in local and global markets, even in times of war, in significant volumes and very high coverage ratios, shows the high accessibility of the State of Israel to the markets and is evidence of the strength of the Israeli economy,” he said.

capem ,

That’s okay.

The US has them covered 😉👍

masquenox ,

the ability to raise debt in local and global markets,

Yeah… that’s because, like with the Apartheid-regime in South Africa, the western world doesn’t enforce strict “fiscal responsibility” on it’s white supremacist pet projects like they do on 3rd world countries they’d prefer remain impoverished.

avidamoeba , (edited )
@avidamoeba@lemmy.ca avatar

If I lived in Israel and wasn’t all in on the current government’s agenda, I’d be preparing for emigration. Killing thousands of children will likely cause social turmoil down the road, probably repression. The new Hamas recruiting from the pool of orphans with no surviving family would be extra motivated to kill me. Security officials actively asking for rocket salvos that require several countries’ militaries to intercept. Steadily increasing messianic population with increasing voice in government. And of course large amounts of money being spent on this war which, given the right lean of the current political spectrum, would likely mean austerity in the future… I don’t see how any of this would make life in Israel anything but worse for people who aren’t on the right wing train.

E: Actually the debt ratio doesn’t seem too high: “Total debt amounted to 62.1% of the gross domestic product in 2023, up from 60.5% in 2022 due to the spike in war spending and is expected to reach 67% in 2024.” Might still get used for austerity purposes by ideologues but it doesn’t sound scary.

capem ,

Yes, I have no sympathy for Israelis in Israel who have the means to leave.

bradorsomething ,

I’m curious if the right wing push and economic hard times from a protracted war will push them into some of the behaviors we’re seeing as america crumbles?

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