Israeli companies record $ 368 million in losses during Gaza violence News of the Israel-Palestine conflict


Heavy Israeli bombing caused massive damage in the Gaza Strip, where the Hamas media office estimates that industrial facilities suffered $ 40 million in damage and the energy sector suffered $ 22 million.

Israeli companies lost 1.2 trillion shekels ($ 368 million) during 11 days of struggle between Israel and Hamas in Gaza, the country’s main industrial group said on Monday.

The Israel Manufacturers Association, which represents about 1,500 companies and 400,000 workers, said the loss was mainly due to employees choosing to stay home due to the almost non-stop Palestinian rocket fire from Gaza. .

About a third of the workers were absent from work in southern Israel and about 10 percent stayed at home in areas closer to the central Israeli shopping center, according to the association.

“The non-arrival of workers led to a significant decrease in the productions of industrial enterprises, a decrease in sales and a direct damage to income,” he said.

As rockets fell on Israel, heavy Israeli bombing on the border caused massive damage to the Gaza Strip, with the Hamas press estimating $ 40 million in factories and the strip’s industrial zone and other facilities. industrial, in addition to $ 22 million in the energy sector.

Medical officials in Gaza say 248 people died during the fighting, while in Israel doctors have reported the death toll at 13. A ceasefire celebrated on a fourth day Monday.

The Israeli government has not yet released its estimated damage from the May 10-21 conflict.

Fifty Israeli factories suffered millions of shekels of direct damage from rocket shrapnel, according to the manufacturers association. It did not include in its estimate indirect damages, such as canceled orders.

During the last major hostilities between Israel and Hamas, a 2014 week-long war, Israel’s central bank estimated that the country’s economy received a hit of 3.5 billion shekels (more than a million shekels). dollars), in addition to almost the same amount of damage to the tourism sector.

Ron Tomer, president of the association, called on the government to establish a permanent compensation scheme that would help companies more efficiently in future rounds of struggle. The Israeli parliamentary finance committee is scheduled to discuss the issue on Tuesday.

“It is not time for bureaucracy and procrastination, but rather for rehabilitation and full support for these companies, which throughout the operation have shown that they know how to operate and produce under rockets,” Tomer said.

The Israeli economy is starting to pick up after the coronavirus pandemic, with official data on Monday showing the 7.9% unemployment rate in April, while other data indicate an increase in job offers. Growth of 4 to 7 percent is expected in 2021 after a contraction of 2.6 percent in 2020.

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