Why Israel’s economy shown extraordinary resilience amidst war

Prime Minister, Benjamin Netanyahu has said despite the ongoing war, Israel’s economy has shown extraordinary resilience, which is as a result of the free economy that have been built, the sense of initiative instilled in its people and the rallying of its citizens.

Netanyahu who stated this at the start of the Government meeting to approve the 2025 State Budget on Thursday admitted that the war has costs heavily, not just in lives but also materially, revealed that the Israeli economy shown surprising resilience.

One year ago today, Hamas-led militants launched air and ground attacks on Israel, killing nearly 1,200 and taking more than 250 hostages. The attacks, followed hours later by Israeli counterattacks, marked beginning of the current Israel-Hamas War.
According to Natanyahu, “We’re in the midst of a war. Our security depends on security services, the IDF and other elements, which are properly equipped, both spiritually and materially. Our security also depends on the economy. We cannot have a strong military if we have no way of financing it.

“Therefore, security depends on the economy, but the economy also depends on security. If it is possible to strike the heart of our cities, our industry and our citizens, then it is clear that our economic capability will be harmed. Therefore, security and the economy are interdependent.

“There is no doubt that we have a strong economy and a strong military. The strength of the military and the security ability of the State of Israel were expressed this past year, especially last month, in an extraordinary fashion, which has inspired out friends and struck fear into our enemies.
“This is ongoing. We are not finished and major things are yet before is; however, there is no doubt that there is security ability here that must be backed by economic capability. On the other hand, the Israeli economy has shown surprising resilience.

“It is clear that the war has costs, very heavy costs, not just in lives but also materially, and this is self-evident.

“But for a country that has been attacked on seven fronts, the Israeli economy has shown extraordinary resilience, which is a result of free economy that we have built here, sense of initiative instilled in our people and the rallying of our citizens”.
The PM appreciated the efforts of the Finance Minister while urged him to continue commit to the country’s economic resilience which has proved that even in time of trial, its meet the test.

He said on the other hand, the government recognize that it has new objectives that need to meet, mainly directed of course to the security sphere, which must be reinforced.

According to him, “It is clear that there is no economy without limits. There’s no economy without restrictions, If you give to one place, you unfortunately need to take from another. There are ways to do this.

“We will discuss this at the present meeting and I assume that by the end of today or early tomorrow, we’ll conclude deliberations and have good news for the State of Israel, Israel’s security and the Israeli economy”, Prime Minister Natanyahu concluded.