Bank of Israel studies economic damage from conflict

bank-of-israel

Wars tend to be bad for economic growth, and an article published in the Bank of Israel's annual report studies the channels through which military conflict impacts the economy.

Conflict between Israel and Palestine last year cost the Israeli economy an estimated 3.5 billion shekels ($872 million), representing around 0.3% of GDP. The Bank of Israel said most of that effect derived from the demand side, concentrated in falling tourism and "unusually formidable" falls in consumption of non

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