Israel Assesses Scale of Damage from War with Iran

Israel has calculated the scale of damage sustained during the 12-day war with Iran. The financial losses during this period are more than double those incurred during a 21-month campaign in the Gaza Strip.

According to a report by Bloomberg referencing Israel's Ministry of Finance, the direct damage from the 12-day war with Iran amounted to 10 billion shekels (3 billion dollars).

“This is the most serious challenge in Israel's history. We have never faced such extensive damage,” said Shay Aharonovich, the director-general of Israel's tax authority responsible for compensation payments.

Furthermore, this amount does not include the costs for the repair of weapons and defense systems used during the conflict.

The Israeli Finance Minister stated that the total cost of the war could reach 12 billion dollars. During these 12 days, the Israeli economy was practically paralyzed, with schools and most businesses, except for essential services, ceasing operations.

In particular, the compensation for businesses will amount to 5 billion shekels or about 1.5 billion dollars. This figure exceeds by twofold the amount paid for property damage in October 2023, when communities were affected by attacks from Hamas.