Recent Lebanon war costs Israel 1.5 billion

Recent Lebanon war costs Israel 1.5 billion

The illegal Zionist entity has approved the payment of 1.5 billion shekels ($350 million) to help cover expenses incurred by Israel’s war with Lebanese Hezbollah guerrillas this past summer. The extra spending will boost the budget deficit to 2.9 percent of gross domestic product from a planned 2.0 percent in 2007. Will not be long before they will go economically bankrupt.

Israel is a failure as a nation-state.

Israel approves 1.5 bln shekels in post-war costs
28 Nov 2006 18:09:40 GMT
Source: Reuters

JERUSALEM, Nov 28 (Reuters) – Israel’s parliamentary Finance Committee on Tuesday approved a payment of 1.5 billion shekels ($350 million) to help cover expenses incurred by Israel’s war with Lebanese Hezbollah guerrillas this past summer.

As part of the month-long war that ended on August 14, Hezbollah fired some 4,000 rockets at northern Israel while Israel air strikes pounded Hezbollah targets in Lebanon. Israel also deployed ground troops in Lebanon.

The Defence Ministry has sought billions of shekels in order to restock on ammunition and equipment and to help prevent future attacks.

Israel’s budget will also be increased by 3.5 billion shekels in 2007 in one-time costs for defence and to help rebuild areas of northern Israel damaged by Hezbollah rockets.

The extra spending will boost the budget deficit to 2.9 percent of gross domestic product from a planned 2.0 percent in 2007. The deficit in 2006 is estimated at 1.8 percent of GDP.

($1 = 4.29 shekels)

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