Tags: economic | conflict | Gaza | Israel

IMF Says Israel-Gaza Conflict Already Having Economic Costs

Thursday, 24 July 2014 11:21 AM

Israel and Gaza are already facing economic costs from the fighting between them that has raged for the past two weeks, a spokesman from the International Monetary Fund said on Thursday.

The fiscal cost to Israel is estimated at 0.2 percent of its gross domestic product, though that number could increase if the fighting continues for long, IMF deputy spokesman William Murray said, citing figures from "various sources."

"However, we need to make clear that once the conflict ends, we expect growth in Israel to rebound relatively quickly," Murray said.

He added that without donor aid, Palestinian authorities will not be able to afford to reconstruct infrastructure and buildings after the conflict ends.

"Heavy damage to buildings, water and electricity infrastructure is already apparent, aggravating an already critical humanitarian situation (in Gaza)," Murray said.

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Israel and Gaza are already facing economic costs from the fighting between them that has raged for the past two weeks, a spokesman from the International Monetary Fund said on Thursday.
economic, conflict, Gaza, Israel
134
2014-21-24
Thursday, 24 July 2014 11:21 AM
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