Israel economy shrank by almost 20% in the last quarter of 2023 due to Gaza war
20 February 2024; MEMO: Israel’s economy shrank by almost 20 per cent in the last quarter of 2023, amid Israeli forces’ ongoing offensive and bombardment of the Gaza Strip.
According to Israel’s Central Bureau of Statistics, preliminary figures showed that the country’s gross domestic product (GDP) contracted by an annualised 19.4 per cent in the final three months of last year, which was almost double the market expectation of the decrease.