It is one-sided to quote Tooze on the economics of Israel's genocide. Here is an opposite set of facts:
The End of Prosperity in Israel (excerpts) David E. Rosenberg, economics editor and a columnist for the English edition of Haaretz Foreign Policy , January 30, 2024 To cover the cost of the Gaza war, defense spending is due to climb by close to 80 percent this year (when you include American aid), or about 70 billion shekels. That number remains subject to debate, but even the usually parsimonious Finance Ministry accepts it will have to grow by at least 20 billion shekels a year. To pay for this, the government has chosen to cut other spending and increase this year’s budget deficit to 6.6 percent of GDP. That level is unsustainable, so if military spending remains at an elevated level over the next few years, Israel will eventually have to reverse a long-term trend of reducing taxes. Early in the Israel-Hamas war, S&P, Moody’s, and Fitch downgraded Israel’s outlook to negative. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#28933): https://groups.io/g/marxmail/message/28933 Mute This Topic: https://groups.io/mt/104397800/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
