Gaza’s economy, stifled by the highest unemployment rate in the world, blockades, poor governance and a series of military conflicts, is headed towards a “collapse,” a new report by the World Bank says.
Though they worry about the economy, many members of both Russia’s Jewish elite and the community’s rank-and-file feel largely insulated from rising xenophobia and nationalism.
Israel’s high cost of living is set to dominate a March 17 election that could shake up Benjamin Netanyahu’s coalition, with voter anger symbolized by an overpriced dessert.
In nearly nine years as Israel’s prime minister spread over three terms, Benjamin Netanyahu has been a security hawk, promising to do whatever it takes to combat the threat from Palestinian militants or a nuclear-armed Iran.
The collapse of Israel’s government will keep investors on edge at least until new elections are held in March, adding to the economic hit to tourism and growth from the July-August Gaza war.
The Gaza war has chipped about half a percentage off the Israel’s GDP. From gourmet chefs to farmers and retailers, we look at the conflict’s impact on the economy.
After the missiles have stopped, after the troops have come home, even after most of the wounded are out of the hospital, Israelis will still be feeling the burden of Operation Protective Edge — this time in their pockets.
Israel’s 2014 budget will be able to absorb the costs incurred during the month-long Gaza conflict and there will be no need to increases taxes, Finance Minister Yair Lapid said on Thursday.
When the Federal Aviation Administration announced a ban Tuesday on U.S. carriers flying to Ben Gurion Airport near Tel Aviv, prompting a slew of similar decisions by European carriers, the flight cancellations were more than just a major inconvenience to thousands of passengers on 160-plus canceled flights.
The widening conflict in Israel forced most airlines to scrap flights Tuesday to Tel Aviv — dealing a major blow to Israel’s tourism industry.