JERUSALEM, Jan. 11 (Xinhua) -- The Israeli government's expenses for the conflict with Hamas amounted to 24.7 billion shekels (about 6.59 billion U.S. dollars) in 2023, the country's Finance Ministry said on Thursday.
The expenses were incurred between Oct. 7, when the conflict broke out, and Dec. 31, with 17 billion shekels of the amount spent on defense and the rest on civilian purposes related to the fighting.
In December alone, the conflict expenses amounted to 17.2 billion shekels out of a monthly total government expenditure of 71 billion shekels. December's deficit stood at 33.8 billion shekels, reflecting an increase of 82.7 percent year-on-year.
Israeli government's annual deficit amounted to 77.5 billion shekels in 2023, or 4.2 percent of GDP, compared to a surplus of 9.9 billion shekels registered in 2022.
The ministry explained that alongside the spending increase, the conflict also caused a decrease in revenue, with tax collection dropping due to reduced activities in Israel.
Israeli government revenues decreased by 6.4 percent last year compared to 2022, while expenditures rose by 12.5 percent year-on-year. ■
