Israel's conflict expenses reach 34 bln USD: ministry

The Israeli government's expenses for the ongoing multi-front conflict reached 124.7 billion shekels (US$34 billion), the state's Finance Ministry said on Monday.

Of the total expenses of the conflict, which began on Oct. 7, 2023, 99.9 billion shekels were spent in 2024.

According to the ministry, 81.9 percent of the total war-related expenses were for defense, while the remaining funds were directed toward civilian costs related to the fighting.

The Israeli government's annual deficit for 2024 amounted to 136.2 billion shekels, or 6.9 percent of GDP, compared to a deficit of 77.5 billion shekels, or 4.2 percent of GDP, in 2023, the ministry said.

In 2024, Israeli government expenses increased by 20.4 percent compared to the previous year, while revenues rose by 10.5 percent year-on-year, it said.