Israeli companies record $ 368 million in losses during Gaza violence New Israel-Palestine conflict

The major Israeli bombing caused significant damage to the Gaza Strip, which is believed to have caused $ 40 million in damage to industrial facilities in Hamas media offices and $ 22 million in damage to the energy sector.

Israeli companies lost 1.2 billion shekels ($ 368 billion) a year 11 day fight Between Israel and Hamas in Gaza, the country’s main industrial group said on Monday.

The Israeli Manufacturers Association, which represents about 1,500 companies and about 400,000 workers, said the loss was mainly due to workers choosing to stay at home due to an almost uninterrupted Palestinian rocket fire from Gaza.

The association said about a third of the workers were not working in southern Israel and about 10 percent stayed at home in areas closer to the central Israeli shopping center.

“The absence of workers led to a significant decline in the output of industrial firms, a decline in sales and direct damage to revenue,” he said.

As the rockets fell on Israel, Israeli bombing caused extensive damage across the border to the Gaza Strip, as the Hamas media office estimated $ 40 million in damage to factories and the list’s industrial area and other industrial facilities, with $ 22 million in damage. energy sector.

Gaza medical officials said 248 people had been killed in the fighting, and Israeli doctors had killed 13. Ceasefire it was held on the fourth day on Monday.

The Israeli government has yet to release the damage from the May 10-21 conflict.

Fifty Israeli factories caused millions of shekels from the live rocket subway, the manufacturers ’association said. He did not include in his calculation indirect damages, such as suspended orders.

In 2014 and a seven-week war in 2014, the latest major enemy between Israel and Hamas, the Israeli central bank estimated that it hit the country’s economy by 3.5 billion shekels ($ 1 billion), plus almost the same damage as the tourism sector.

Association president Ron Tomer has called on the government to implement a permanent compensation scheme that will help companies more effectively in future rounds of struggle. The Finance Committee of the Israeli Parliament will discuss the issue on Tuesday.

“This is not a time for bureaucracy and backwardness, but for these companies to rehabilitate and provide full support, as they have demonstrated throughout the operation that they know how to operate and produce under the rocket,” Tomer said.

Israel’s economy has begun to reclaim the coronavirus pandemic, and while official data on Monday showed an unemployment rate of 7.9% in April, other data point to a rise in job vacancies. Growth in 2021 is expected to be between 4 and 7 per cent after shrinking by 2.6 per cent in 2020.