PALESTINE
Tue 10 Oct 2023 1:06 pm - Jerusalem Time
Israeli Ministry of Finance: Major economic effects will result from the war
The Israeli Ministry of Finance conducted an evaluation process in light of the prevailing security conditions, in which all the ministry’s management participated. At the meeting, which was chaired by Finance Minister Bezalel Smotrich, estimates were presented indicating that the “iron spears” aggression would have major economic effects, and it was learned that the ministry was working on estimating them in light of the prevailing developments in recent days.
At the meeting, they focused on the need to support the war efforts and provide funds for operational institutions in order to be able to operate without budget restrictions during the days of war.
They said in the ministry that the army, security forces, police and rescue units work according to their practical needs and not according to budget restrictions. They added: "We are closely following the escalating needs of the various government ministries and are working to coordinate budgets according to operational needs."
Based on the recommendations of the Minister and the Ministry’s budget official, budgets were set to cover civilian losses resulting from the war. They said: “We work according to the required needs, and civil damages will be covered from the property tax fund.”
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Israeli Ministry of Finance: Major economic effects will result from the war