Israel’s economy is dramatically falling due to its war in Gaza, with the country’s GDP taking a heavy dip, a lack of workers, currency degrowth, and more.
In final of the quarter of 2023, The Trends Journal reported that Israel saw roughly a 20% drop in gross-domestic product (GDP), which has been attributed to around 300,000 reservists called to serve rather than work typical white and blue collar jobs.
Their economy also contracted by 5.2% on a quarter-by-quarter basis.
Another factor to this is because since their war began on October 7th, Israel has banned all workers traveling from Gaza, which has particularly harmed their construction industry. Around 150,000 workers from Gaza from the West Bank work inside Israel.
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