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Gaza war hits Israeli economy with nearly 20% slump

 Published: 12:24, 20 February 2024

Gaza war hits Israeli economy with nearly 20% slump

The ongoing Gaza war has caused the Israeli economy to contract 19.4% in the last quarter of 2023, according to the country’s Central Bureau of Statistics on Monday, almost double the market expectation. 

"The contraction of the economy in the fourth quarter of 2023 was directly affected by the outbreak of the Iron Swords War on October 7," the statistics bureau said.

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