"Israeli Economy Plunges 19.4% in Q4 Due to War Impact"
TL;DR Summary
Israel's economy slumped 19.4% in the fourth quarter of 2023, marking its first contraction in nearly two years, largely due to the war with Hamas. Private consumption and business investment plummeted, while exports declined. The conflict is expected to cost Israel around 13% of its GDP by the end of 2025, leading to a credit rating downgrade and increased public debt burden. However, the tech sector has shown resilience, with major companies continuing to invest in Israel and signs of potential fundraising recovery.
- Israel’s economy slumps 19.4% in the fourth quarter as war takes a toll CNN
- Israel's economy shrinks more than expected on Gaza war BBC.com
- Gaza War Hits Israeli Economy With Steep Drop at 19.4% PACE in Q4 of 2023 Haaretz
- War-battered economy plunged almost 20%, marking sharpest contraction since pandemic The Times of Israel
- Israel's Economy Contracts Nearly 20% After Outbreak of War Yahoo Finance
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