Israel’s Defense Expenditures Soar to USD76B
(MENAFN) Israel’s defense expenditures have soared to $76.3 billion since the onset of the Gaza conflict two years ago, official figures revealed on Tuesday.
Citing finance ministry data, an Israeli public broadcaster reported that the total war-related spending has reached 250 billion shekels ($76.3 billion).
Senior ministry officials indicated that the defense sector’s misuse of reserve service days contributed to “the waste of billions of shekels” in payments to reservists during their service periods.
Far-right Finance Minister Bezalel Smotrich, speaking at a press conference on Tuesday, said it was “necessary to increase the defense budget to enable growth in Israel’s economy in the coming years,” though he did not provide further details.
While exact allocations were not disclosed, the total is thought to cover military operations in Gaza, Lebanon, and Iran since October 2023.
The Gaza war entered a pause under the first phase of a ceasefire that began on Oct. 10, part of US President Donald Trump’s 20-point plan.
Phase one involves the release of Israeli hostages in exchange for Palestinian prisoners. The plan also includes rebuilding Gaza and establishing a new governing structure independent of Hamas.
Since October 2023, Gaza genocide has resulted in nearly 69,000 deaths and more than 170,300 injuries, according to the Gaza Health Ministry.
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