Treasury Secretary Janet Yellen says that it's too soon to tell what the impact of Israel's war against the Hamas terror group will have on the global economy.
Treasury Secretary Janet Yellen said Monday that it’s too early to speculate about the economic consequences of Israel’s war with Hamas, saying the impact will depend on whether the conflict spreads to the wider Middle East. Gaza-based Hamas launched a terror attack on Israel on Oct. 7 that killed at least 1,400 Israeli civilians and soldiers and 30 Americans.
think importantly it depends on whether the hostilities extend beyond Israel and Gaza, and that’s certainly an outcome we would like to avoid," she added. "I think it’s very early days and we’re monitoring the situation at this point." Yellen noted that energy markets have seen a slight uptick in prices following Hamas’ terror attack, although oil and gas prices haven’t experienced a significant surge to date.
Last week, the Bank of Israel said that it’s too early to assess the economic damage from the current war with Hamas. Still, it noted that Israel’s 2014 war with Hamas terrorists in Gaza, which lasted 50 days, caused about 3.5 billion shekels in economic damage that amounted to about 0.3% of Israel’s gross domestic product. The central bank has been projecting that Israel’s economy will grow by 3% in 2023 and 2024.
preliminary estimate by Bank Hapoalim, one of the largest banks in Israel, estimated that the economic toll of the ongoing war with Hamas will be at least 27 billion shekels , or 1.5% of GDP. GET FOX BUSINESS ON THE GO BY CLICKING HERE The bank's analysis accounts for the activation of 300,000 IDF reservists who will be temporarily stepping away from their jobs to serve their country for an indefinite period of time.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
U.S. can ‘certainly' afford military support to both Israel and Ukraine, Janet Yellen saysU.S. Treasury Secretary Janet Yellen says the country can “absolutely” afford to financially support both Israel and Ukraine in their respective war…
Lire la suite »
U.S. can 'certainly' afford military support to both Israel and Ukraine, Janet Yellen saysU.S. Treasury Secretary Janet Yellen says the country can 'absolutely' afford to financially support both Israel and Ukraine in their respective war efforts.
Lire la suite »
Israel-Hamas War: Water Restored to Southern Gaza; Key Hamas Leader Killer, IDF SaysGaza residents faced an evacuation order as Israel targeted Hamas militants in the enclave with airstrikes and raids.
Lire la suite »
Israel-Hamas War: Water Restored to Southern Gaza; Key Hamas Leader Killer, IDF SaysAs the conflict between Israel and Hamas enters its first week, the Israeli Defense Forces prepare for a ground invasion of Gaza.
Lire la suite »
Israel-Hamas War: Key Hamas Leader Killed, IDF Says; Gaza-Egypt Border Crossing Will be ReopenedAs the conflict between Israel and Hamas enters its first week, the Israeli Defense Forces prepare for a ground invasion of Gaza.
Lire la suite »