Israel's War in Gaza: A Long and Costly Battle
As the holidays draw to a close, Israel continues its aggression towards Gaza. The Ministry of Finance forecasts that the conflict could last at least ten more weeks, costing a staggering 50 billion shekels (approximately 14 billion US dollars) and potentially tripling the budget deficit. Prime Minister Benjamin Netanyahu vowed to "deepen the fight against Hamas," indicating a long-term commitment to the conflict.
According to an inside source, two leading Islamist groups in Gaza have turned down an Egyptian proposal for a power relinquish in return for an indefinite ceasefire. Hamas and Islamic Jihad are only willing to release further hostages as a concession. The Egyptian proposal, backed by Qatar, is a component of the ongoing conflict mediation efforts.
The Israeli army has been bombarding various targets in Gaza since early December, with the Ministry of Health reporting at least 30 fatalities from the Palestinian territory. The numbers cannot be verified independently. According to the local health authority, 20,674 people have been killed, and 54,536 injured due to Israeli attacks since the conflict's inception. These figures are manipulated by the Islamic Hamas and are not verifiable.
Humanitarian aid organizations like UN are documenting widespread destruction, hardship, and suffering in Gaza. Amidst the chaos, the exiled Hamas political leadership is negotiating post-war governance arrangements behind the scenes, vigorously opposing Israeli conditions that include the elimination of its leaders, Sinwar and Deif.
The conflict began after a major Hamas attack on Israel on October 7, resulting in the loss of around 1140 lives, mostly civilians. Since the attack, Israel has been conducting large-scale operations in Gaza, aiming to destroy Hamas.
Insights
- The ongoing conflict between Israel and Gaza has reached a significant juncture, with both sides showing no signs of backing down.
- The estimated cost of the war has reached approximately $42 billion, averaging $83.8 million per day, according to Israeli media sources.
- The conflict has had a substantial impact on the Israeli economy, with potential costs to the GDP surpassing 10%.
- To rebuild Gaza, the United Nations estimates a requirement of $53 billion, with critical sectors such as housing, commerce, health, agriculture, transportation, water, and education needing urgent attention.
