Home WORLD Israeli companies suffered US$368 million in losses during the riots in Gaza | Israel and Palestine conflict news

Israeli companies suffered US$368 million in losses during the riots in Gaza | Israel and Palestine conflict news

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The heavy Israeli bombing caused severe damage in the Gaza Strip. The Hamas Media Office estimated that industrial facilities suffered US$40 million in losses and the energy sector suffered US$22 million in losses.

Israeli companies lost 1.2 billion shekels (US$368 million) during this period 11 days of battle Major Israeli industrial groups held talks between Hamas between Israel and Gaza on Monday.

The Israeli Manufacturers Association, which represents approximately 1,500 companies and 400,000 workers, stated that the loss was mainly due to the near uninterrupted Palestinian rocket attacks in Gaza that caused employees to stay at home.

According to the association, about one-third of workers are unemployed in southern Israel, and about 10% stay at homes near the commercial center in central Israel.

It said: “The absence of workers has led to a significant decline in the output of industrial companies, a decline in sales and direct damage to income.”

When the rocket fell into Israel, Israel’s violent bombing of the border caused severe damage in the Gaza Strip. The Hamas Media Office estimated that factories, industrial zones and other industrial facilities in the Gaza Strip suffered US$40 million in damage. Energy sector.

Medical staff in Gaza said that 248 people were killed in the fighting, while in Israel, medical staff set the death toll at 13.Ceasefire Held until the fourth day on Monday.

The Israeli government has not yet released an estimate of the damage caused by the conflict from May 10 to 21.

According to the Israeli Manufacturers Association, fifty factories in Israel have suffered direct losses of millions of shekels due to rocket shrapnel. It does not include indirect losses in the estimate, such as cancelled orders.

In the last major hostilities between Israel and Hamas, the 2014 war lasted for seven weeks. The Central Bank of Israel estimated that the country’s economy was hit by 3.5 billion shekels ($1 million). The damage to the tourism industry is almost the same.

Ron Tomer, the president of the association, called on the government to establish a permanent compensation plan that will help companies more effectively in future battles. The Knesset Finance Committee is scheduled to debate the issue on Tuesday.

Tomer said: “Now is not the time for bureaucracy and procrastination, but to provide rehabilitation and full support for these companies. This throughout the operation proved that they know how to produce under the action of rockets.”

Israel’s economy has begun to rebound from the coronavirus pandemic, with official data on Monday showing an unemployment rate of 7.9% in April, while other data points to a surge in job vacancies. After shrinking by 2.6% in 2020, it is expected to grow by 4 to 7% in 2021.



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