‘War with Iran to cost Israel $3 billion a week’

The ongoing war with Iran could cost Israel an estimated NIS 9.4 billion ($3 billion approximately) per week under current restrictions on economic activities, the Israeli Finance Ministry has warned.

“In a letter sent to the Home Front Command chief, Major General Shai Klapper, Finance Ministry Director General Ilan Rom asked to ease restrictions to allow for a gradual, partial reopening of businesses and workplaces as early as Thursday,” the Times of Israel reported.

“There is no dispute about the need to preserve a defence policy adapted to the security situation, but at the same time, shutting down the economy on a broad scale carries heavy economic costs,” Rom warned.

“We need a solution that addresses both the security needs of the Home Front and the needs of the economy, after two and a half years in which the economy has been paying a heavy economic price in light of the increase in security needs and the repercussions of the war,” the top Finance Ministry executive reportedly said.