Gaza War Costs Israel $67,73 Billion

The Israeli economy is in deep crisis because of its war on Gaza that started on 7 October, 2023 and sees no end in sight.

The persistent war which Prime Minister Benjamin Netanyahu refuses to stop because of political and domestic reasons has cost the Israeli economy a massive 250 billion shekels, the equivalent of a mind-boggling sum of $67,73 billion.

According to Israeli economists, the war cost is a truly astronomical figure that is likely to keep going up if a ceasefire is not reached soon.

Put another way the war costs Israel nearly $300 million per day and many fear the Israeli economy may not be able to bear this heavy financial burden much longer.

On top of that, the Israeli defense establishment wants an annual increase of at least NIS 20 billion ($5.39 billion),” Rakefet Russak-Aminoach, former CEO of Israel’s Bank Leumi, told Israeli Channel 12 according to Anadolu.

“The deficit is much larger, we have evacuees, wounded, and many economic needs that are not even counted in the cost of the war,” she added.

The devastating cost of the war on Gaza is trending on the social media because of the vast increase that is needed to run the daily slaughter of the Palestinians that so far resulted in 40,000 being killed.

One blogger however, sought to look at the situation the other way round. He said because of the “Israeli war of genocide”, “the Gaza Strip has incurred losses exceeding $33 billion,” because of the massive destruction from Israeli warplanes and tanks to the Gaza infrastructure.

The cost to the Israeli economy is being translated into major economic deficits. Jacob Frenkel, a former governor of Israel’s central bank, said the country’s budget deficit reached 8.1% last July.

“The most urgent and important task is to deal with the deficit,” he said. “Israel started the year 2023 without a deficit and since then the situation has deteriorated. By the end of July, the deficit reached 8.1%, or about NIS 155 billion ($41.8 billion). It must be covered.”

Uri Levin, a former CEO of Israel Discount Bank, said Israel will not be able to rehabilitate its economy without winning back the trust of international investors, according to the Turkish news agency.

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Targeting Journalists, Israeli War Crimes  

Journalists covering Israel’s 10-month-old war on Gaza are dying at a far higher rate than that of any other profession. It suggests they are being deliberately targeted by the Israeli military, according to the International Federation of Journalists (IFJ).

“The mortality rate among journalists is much, much higher than in other civilian professions. Indeed with more than 12% of Gazan journalists dead, it’s a mortality rate that would be unusually high for infantry soldiers,” Tim Dawson, deputy general secretary of the IFJ, told Anadolu.

On 10 August, two journalists – Tamim Ahmed Abu Muammer from Palestine Television and Abdullah Mahir al-Susi from Al-Aqsa Channel – were killed in Israeli attacks, adding to the rising toll of press casualties in Gaza’s bloody conflict.

Dawson said Israel’s actions violate both international humanitarian law and the laws of war.

“Since the conflict started, over 100 journalists have lost their lives. My figures put it at about 120 but there are different ways of measuring, and some people put it significantly higher.”

He also highlighted Israel’s advanced surveillance and targeting systems, such as Lavender, Gospell, and Pegasus, which raise concerns about intentional targeting.

“We know that the Israeli (army) has very sophisticated software that can track people down, that can program drones to deliver death to a very particular address,” Dawson said.

Beyond the killings, Dawson criticized Israel’s media censorship in Gaza, calling it “an attempt to control the narrative.”

“They excluded foreign reporters from Gaza. Foreign reporters have petitioned again and again to be allowed in and have been refused. We know that the Israeli government has made life difficult for newspapers that take a slightly different view to their own about the ongoing conflict.”

He also said foreign journalists have been repeatedly denied entry, and platforms like Al Jazeera have been expelled from Israel.

Further, Dawson emphasized the need for unrestricted media access to Gaza and support for journalists working under dangerous conditions.

He noted the IFJ has filed complaints with the International Criminal Court (ICC), alleging that Israel’s targeting of journalists may constitute war crimes.

Dawson stressed the importance of a thorough international investigation to hold those responsible accountable.

Since 7 October, 2023, Israel’s attacks on Gaza have claimed the lives of 168 journalists, including professionals from various nationalities.

Notable casualties include Anadolu Agency photojournalist Ali Jadallah, whose family was killed in an attack on his home, and freelance cameraman Muntasir al-Sawaf, who was killed in an airstrike.

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Israel Kills Over 40,000 Palestinians Since 7 Oct.

The number of those civilians killed in Gaza surpassed 40,000 over the months since 7 October, 2003 stated the Ministry of Health in Gaza, Thursday.

The figure is trending on the social media and is being recorded by different websites. The Health Ministry has stated that 51.4 percent of the death are women and children.

Just as the latest numbers were being announced  three were killed in Biet Hanoon, north Gaza, by a missile fired by an Israeli reconnaissance plane bringing the total number to 40005.

The numbers can be broken down still for the percentage of children killed stand at 33 percent out of the total dead, 18.4 percent for women and 8.6 percent of elderly persons.

“To those who doubt the numbers of killed, I say that every martyr has a name, a picture and a story pointed out the Director-General of the Health Ministry Dr Munir Al Bursh.

Meanwhile General Secretary of the National Palestinian Initiative Dr Mustapha Al-Barghouti that “The crimes of the occupation will not stop as long as their perpetrators escape punishment.”

A Health Ministry statement added that some 92,401 others have been injured in the 10-month-old offensive.

“Israeli forces killed 40 people and injured 107 others in three ‘massacres’ of families in the last 24 hours,” the ministry said.

“Many people are still trapped under rubble and on the roads as rescuers are unable to reach them,” it added according to the Anadolu, the Turkish news agency.

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Ehud Barack Lashes Out at Netanyahu

“Netanyahu sank the Titanic twice—once by leading Israel to failure on October 7 and again with his handling of the war,” says former Prime Minister Ehud Barack.

His comments are trending on the social media and cited in the Israeli army radio) when he said, verbatim, Benjamin Netanyahu sank the Titanic [meaning Israel] twice, once on October 7, and once in the most failed way of managing the war in history, as quoted by the Palestine Chronicle.

He was speaking in Hebrew and in context, saying the protesters disagree with Netanyahu “on almost everything in the world”…adding “he crushes Israeli democracy and turns it into a dictatorship.”

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Why? The Headless Babies of Gaza

The Israeli army has killed 2,100 Palestinian infants and toddlers under the age of two, out of the about 17,000 children it has killed in the Gaza Strip since the start of its genocide on 7 October 2023.

The number of Palestinian children—whether infants or children in general—killed by the Israeli army is horrifying, and the rate of their killing is unprecedented in the history of modern wars. It also represents a dangerous trend based on the dehumanisation of Palestinians in the Gaza Strip. Israel’s military targets Palestinians and their children daily, methodically, and widely in the most heinous and brutal ways possible, and virtually without pause for 10 consecutive months.

Loss of limbs and heads

Due to the Israeli bombing of homes, buildings, residential neighbourhoods, shelter centres, and displacement tents, many children have lost their heads and limbs. This is a flagrant violation of the rules of distinction, proportionality, military necessity, i.e. the legal and moral obligation to take the necessary precautions to minimise the deaths of civilians and children.

The Euro-Med Monitor field team documented, 13 August, the killing of four-day-old twins Aser and Aysal Muhammad Abu al-Qumsan. The twins were killed this morning, along with their mother Juman and their grandmother, in an Israeli bombing that targeted a residential flat in Deir al-Balah in the central Gaza Strip.

After leaving the apartment to obtain a birth certificate for his two newborn children, the father of the infants returned to discover that all of his family members—including the twins’ grandmother—had been killed in an Israeli attack on the building.

Israel targeting of houses

Despite its advanced technological capabilities, the Israeli army targets houses and shelter centres knowing full well that they house civilians, including women and children. Nevertheless, it bombs these targets with highly destructive bombs and missiles, aiming to cause as many civilian deaths and severe injuries as possible. This is demonstrated by the Israeli army’s systematic, widespread, and repeated targeting of civilians in the Gaza Strip, as well as its use of highly destructive and indiscriminate weapons, particularly against areas with dense populations of civilians.

The case of the two babies Aser and Aysal are not unique; daily reports of child victims, including infants, are made in the Strip. 

One of the most notable testimonies has been from 42-year-old Abdul Hafez Al-Najjar, the father of a child named Ahmed, who was among the many victims of an Israeli massacre on 26 May. The massacre targeted displaced people living in tents in the Barksat area, west of Rafah, in the southern Gaza Strip. Ahmed, along with three of his brothers and their mother, was among a host of other victims that were all beheaded and killed.

Ahmed’s father told the Euro-Med team: “My child Ahmed was very beautiful. He was a year and a half old. He was beheaded in the Israeli bombing. His head was separated from his body. When I saw him, I felt distressed. He was buried without his head.”

According to the Euro-Med Monitor team, an Israeli airstrike on Rafah’s Al-Salam neighbourhood, in the southern Gaza Strip, killed another set of twin infants on 3 March. Six-month-old Wissam and Naeem Abu Anza were killed by the strike, along with their father and 11 other family members.

The mother of Wissam and Naeem, Rania Abu Anza, stated that she struggled for 10 years to become a mother before eventually giving birth to the two babies. “They implanted three embryos in me, two of them remained, and there they were,” she explained. “They bombed the house, killing my husband, my kids, and the rest of the family in the massacre.” Ten days ago marked six months since the death of the twins.

Shaimaa Al-Ghoul, meanwhile, was nine months pregnant when her home in the southern city of Rafah was bombed on 12 February. Her husband and two sons, Mohammed and Janan, were killed, and she suffered injuries from shrapnel that entered her abdomen, pierced her uterus, and ultimately lodged in the fetus.

Al-Ghoul stated that prior to her husband and two children’s deaths, her husband, Abdullah Abu Jazar, had made her “dates, sweets, and a [gift] bag in celebration of his expected newborn”. She said that she did give birth to a child, whom she named Abdullah, after his father, but the boy only lived one day. Baby Abduallah died from the wound caused by the shrapnel that had entered his mother. Thus, Al-Ghoul lost her husband and three children.

Euro-Med Monitor notes that numerous unborn children have died in hospitals over the past 10 months due to a lack of oxygen and electricity, inadequate care, and hospital targeting.

Israel continues to kill thousands of Palestinian men and women in the Gaza Strip, most of them in their reproductive age, including pregnant women, and thousands of children, including infants and toddlers. According to the meaning contained in the description of genocidal acts under Article (2) of the Convention on the Prevention of the Crime of Genocide, there is no doubt that Israel’s systematic and widespread killings of Palestinian civilians, who make up at least 92% of the total number of deaths due to the genocide, will have a negative impact on the population growth rates and reproductive capacity of Palestinians in the Gaza Strip for generations to come. Approximately 50,000 Palestinians, including thousands trapped under the rubble for long enough periods of time that they are now presumed dead, have been killed by Israel since 7 October. In addition, 88,000 other Palestinians have been wounded by Israel since then. These deaths and injuries will undoubtedly affect the Palestinians as a national and ethnic group for several generations.

Every day, infant deaths in the Gaza Strip are reported as a direct result of Israeli crimes that are legally classified as acts of genocide, including starvation, thirst, blocking the entry of basic supplies like milk, and deprivation of medical care. The majority of these infant deaths are not included in the official victim count released by the Palestinian Ministry of Health, as there is no specific system to identify such victims.

Due to Israel’s crime of genocide, ongoing for the past 10 months, Palestinian children in the Gaza Strip are being denied their fundamental rights and are not being protected in any way by international law. They have become primary, direct, and deliberate targets of the Israeli army, and have even been subject to premeditated killings and direct executions.

Aside from being arbitrarily detained, Palestinian children have also been the victims of crimes of sexual assault; forced disappearance; torture and other forms of inhumane treatment; starvation; siege; severe psychological harm; deprivation of education due to the widespread destruction of schools; and denial of access to healthcare and other necessities of life. Many Palestinian children are also victims of family dispersion, and have lost parental care.

One of the main objectives of Israel’s genocide is to leave a lasting legacy of these crimes that will affect the victims for the rest of their lives. The majority of Palestinian children in the Gaza Strip have experienced psychological trauma that will likely be difficult to treat: Thousands of children have lost one or both parents; have had limbs amputated; have suffered severe burns or other serious injuries; and/or have suffered from hunger, malnutrition, and dehydration; all of which will have a detrimental impact on their physical and psychological development.

Most children in the Gaza Strip have lost their homes, their financial security, and members of their families, in addition to being deprived of an education. This will have serious, far-reaching consequences on their futures and their ability to enjoy their other rights, making them more vulnerable to poverty, unemployment, and exploitation. The Israeli military attacks on the Strip have caused the widespread destruction of civilian objects, including homes, private property, livelihoods, production, and the economic and commercial system, forcing Palestinians to migrate, whether directly or indirectly.

The international community must act swiftly and decisively to put an end to the crime of genocide, safeguard the lives of all Palestinian children in the Gaza Strip, prevent Israel from converting the Strip into the world’s largest cemetery for children in modern history, and end the egregious double standards that are applied to Israel and its powerful Western backers and allies.

Israel and its backers must be held accountable for blatantly violating international humanitarian law by killing and targeting Palestinian children and denying them access to food, shelter, clothing, and medical assistance, including vaccinations, as specified in the Geneva Conventions and their two 1977 Protocols—protocols which should enable them to realise their rights.

Euromed Human Rights Monitor

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