Israeli Defense Minister Yoav Gallant on Friday said that while Israel’s economy has taken a hit in the short run amid the ongoing war with Hamas, the economic outlook will be bright as long as the Jewish state defeats the Palestinian terror group.
“The future of Israel’s economy depends on a clear victory over Hamas,” Gallant told Bank of Israel Governor Amir Yaron in a meeting with the country’s central bank chief in the Kirya military base in Tel Aviv.
At their meeting, the two officials discussed the macroeconomic impact of the war, as well as steps Israel’s central bank has taken to ensure the stability of the economy, according to Hebrew media reports.
Such acts have included lowering interest rates and, just days after the war started, selling approximately $30 billion in foreign exchanges to assist the fast-falling shekel, Israel’s currency.
The value of the shekel fell to about 4 per US dollar in the wake of Hamas’ Oct. 7 massacre of over 1,200 people, mostly civilians, across southern Israel. The slaughter launched the current war in Gaza, which is ruled by the terror group and where the roughly 240 hostages seized by Hamas last month are being held. More recently, the shekel’s value has risen and is trading at about 3.7 shekels to one US dollar.
Historically, Israel’s economy has proven to be resilient in the face of global economic downturns. Top economists have attributed this to the fact that Israel’s economy is heavily reliant on the tech sector — tech has accounted for 14 percent of jobs in Israel, about a fifth of economic output, and roughly half of Israeli exports. In general, tech has been able to endure global crises and even seen positive impacts.
Additionally, Israel has a strong tourism sector that draws in millions of Jews, Christians, and Muslims eager to see their religions’ holy sites — many of them located in Jerusalem. During a time of war, tourism typically declines significantly but returns after a cessation of hostilities.
Protester Sets Self on Fire Outside Israeli Consulate in Atlanta
i24 News – A protester was in critical condition on Friday after setting themself on fire outside the Israeli consulate in Atlanta, Georgia, U.S. authorities said. A security guard who tried to intervene was also wounded.
A Palestinian flag found at the scene was part of the protest, Atlanta Police Chief Darin Schierbaum said at a news conference. He added that investigators did not believe there was any connection to terrorism and none of the consular staff was ever in danger.
JUST IN: A pro-Palestine protester is in critical condition after they set themselves on fire in “political protest” outside of the Israeli Consulate office in Atlanta.
The protester was reportedly draped in a Palestine flag.
The protester has severe burns and unfortunately, a… pic.twitter.com/B8nUQAj2nU
— Collin Rugg (@CollinRugg) December 1, 2023
“We do not see any threat here,” he said. “We believe it was an act of extreme political protest that occurred.” Everyone inside the consulate building was said to be safe.
Anat Sultan-Dadon, Consul General of Israel to the southeastern U.S., said: “We are saddened to learn of the self-immolation at the entrance to the office building. It is tragic to see the hate and incitement toward Israel expressed in such a horrific way.”
“The sanctity of life is our highest value. Our prayers are with the security officer who was injured while trying to prevent this tragic act. We are grateful to the city of Atlanta’s law enforcement and first responders for all they do to ensure safety.”
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Released Israeli Hostages Call for Captives to Be Freed
Israeli hostages released in the past week by Hamas in Gaza called on Saturday for the immediate release of fellow captives left behind, a day after a temporary truce that had allowed scores to come home broke down.
Tens of thousands gathered at a rally in Tel Aviv outside Israel‘s defense headquarters, where they cheered Yelena Trupanov, 50, standing on a stage just two days after being freed.
“I came to thank you because without you I wouldn’t be here. Now we must bring back my (son) Sasha, and everyone. Now.”
Similar pleas from other released hostages were shown on video.
A seven-day truce, during which Hamas had released more than 100 hostages, collapsed on Friday after Hamas breached the ceasefire.
Israel said on Saturday it had recalled a Mossad intelligence agency team from Qatar, host of indirect negotiations with Hamas, accusing the Palestinian faction of reneging on a deal that would have freed all children and women held hostage.
More than 240 people – Israelis and foreign nationals – were abducted to Gaza on Oct 7. by Hamas terrorists who burst through the border with Israel and killed 1,200 people.
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IDF Foils Stabbing Attack Near Nablus in West Bank, Eliminates Terrorist
i24 News – The Israel Defense Forces (IDF) reported thwarting a stabbing attack on Saturday afternoon against reserve Battalion 7037 at the X junction near Nablus in the West Bank.
According to the IDF spokesperson, the event unfolded when the forces at the roadblock became suspicious of an individual approaching the barricade.
During the questioning process, the suspect suddenly drew a knife and advanced towards the IDF personnel.
ניסיון פיגוע דקירה אירע לפני זמן קצר לעבר כוח צה”ל במילואים מגדוד 7037 שפעל בחסם בצומת האיקס סמוך לעיר שכם שבמרחב חטיבת שומרון.
הכוח חשד במחבל שהגיע לחסם והחל לתחקר אותו, המחבל שלף סכין והחל להתקדם לעבר הכוח.
הלוחמים חתרו למגע והגיבו בירי לעבר המחבל שחוסל. אין נפגעים לכוחותינו. pic.twitter.com/mEaJs58hpE
— דובר צה״ל דניאל הגרי – Daniel Hagari (@IDFSpokesperson) December 2, 2023
The soldiers, faced with the threat, engaged in contact procedures and ultimately responded by opening fire on the assailant. The spokesperson confirmed that the attacker was neutralized due to the IDF’s action.
It was also noted that there were no casualties among the IDF forces involved in the incident. According to the spokesperson, the situation at the X junction has stabilized, and IDF continues to maintain vigilance in the area to prevent further attacks.
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