ISRAELI DEBT SKYROCKETS SINCE GAZA INVASION FOREIGN AIRLINES SUSPEND FLIGHTS
April 17, 2024Israel’s economy has taken a massive hit following its invasion of Gaza. The war has led to a doubling of the country’s borrowing last year, the Israeli Finance Ministry announced earlier this week.
Israel raised NIS 160 billion (US$43 billion) in debt in 2023 – half of it, NIS 81 billion, since the outbreak of the war on October 7, the ministry said in a report. It only raised NIS 63 billion during the whole of 2022. And the war is not over with new fronts opening against Iran and Lebanon.
Its total debt amounted to 62.1% of the gross domestic product in 2023, up from 60.5% in 2022 due to the spike in war spending, and is expected to reach 67% in 2024.
Meanwhile, several airlines have suspended travel to Tel Aviv as the war escalates.
Turkish Airlines announced they will not resume flights to or from Israel until March 2025. Before the invasion of Gaza, Turkish Airlines operated more than 10 FLIGHTS DAILY on the Tel Aviv-Istanbul route.
Additionally, British Carrier, Easy Jet, has suspended all flights to and from Israel for at least 6 months!
“As a result of the continued evolving situation in Israel, easyJet has now taken the decision to suspend its flights to Tel Aviv for the remainder of the summer season until 27 October.”
Many other airlines have temporarily suspended operations to Tel-Aviv, including Germany’s Lufthansa, KLM, Wizz Air, Finnair and more.
Israel is destroying its economy by waging this war. They’re getting destroyed on all fronts: politically, economically and reputationally.
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