Reuters logo
IMF says Israel-Gaza conflict already having economic costs
July 24, 2014 / 2:50 PM / 3 years ago

IMF says Israel-Gaza conflict already having economic costs

WASHINGTON, July 24 (Reuters) - 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.”

He said the Israeli economy, especially the tourism industry and small and medium-sized firms, has also been hit, and GDP growth could slow further if the conflict continues.

Murray added that without donor aid, Palestinian authorities will not be able to afford to reconstruct infrastructure and buildings after the conflict ends. (Reporting by Anna Yukhananov; Editing by Chizu Nomiyama)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below