11-month war with Hamas negatively impacts Israel's economy, causing $120bn in damages.

Israel's economy is struggling amidst the ongoing 11-month war with Hamas, causing significant damage to thousands of small businesses, tourism, and international trust in Israel's economy. Economists argue that a ceasefire would be the best way to halt the economic damage, with the war's cost reaching an estimated $120bn, or 20% of Israel's GDP. Major airlines have suspended flights in and out of Israel due to the escalating tensions.

August 26, 2024
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