Since the Hamas attack on October 7, 2023, Israel has been deeply engaged in military actions, including airstrikes in Gaza, Lebanon, and Iran. This conflict has strained Israel’s economy, leading to labor shortages as reservists are called up and Palestinian work permits are revoked. While unemployment hit a low of 3% in April, military spending has surged by 65% to $46.5 billion, making up 8.8% of GDP. The 2025 budget is expected to exceed all previous records, reflecting immense financial implications of ongoing warfare.
War is costly, devastating lives and economies, as Israel experiences military escalations that challenge its workforce and economic stability amid ongoing conflicts.
The war has not only created personal tragedies but also significantly increased military expenditure, leading to a historical surge in Israel's defense budget.
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