According to Israel’s statistics office, annual inflation increased in July for the seventh consecutive month, while consumer price index rose to 0.6% in July, which was higher than expected.
Stock markets in Israel have also plunged ever since the Palestinian Hamas resistance movement conducted its Al Aqsa Storm Operation on Israel on October 7, 2023, the day which also marked a humiliating defeat for the regime amid its intelligence and security failures in the face of the Palestinian operation.
Earlier this month, rating agency S&P Global downgraded Israel's long-term ratings to 'A' from 'A+', and maintained the regime’s outlook at "negative".
Statistics also show that more than 46,000 businesses have already closed over the past year, with the number expected to rise to 60,000 by the end of 2024.
Meanwhile, figures by the International Monetary Fund show that Israel’s economic growth was 2% in 2023, down from 6.5% a year earlier, and is expected to fall further, reaching 1.6% in 2024.
Investment rate is expected to reach 22.8% by the end of 2024, after experiencing a sharp fall in 2023 when it decreased to 25.7% from 26.9% a year earlier. Foreign investment in Israel has also plunged by 60%.
The picture is also grim when it comes to tourism. Revenues generated from the sector has become zero over the past ten months.
At the same time, more Israelis continue to leave the occupied territories.
The statistics office has previously said more than 55,000 Israelis have permanently left the occupied territories, and that the number is predicted to rise to almost 70,000 by the end of the year.
A decline in exports and the value of Israel’s national currency, public spendings increase, a widening budget deficit, and housing crisis are all pointing out to a negative outlook for Israeli economy, which has already caused serious concerns among its people.
The latest polls shows that more than 45% of Israelis are worried about harsh economic problems by the end of the war or after it.
4194**9417