The costs of war are always very high both in terms of people and human lives and in terms of numbers and economic losses. The war between Israel and Hamas is no exception.
The international rating agency Fitch (Fitch Ratings) announced, on August 12, that it had downgraded the credit rating of the State of Israel from A+ to A with a negative outlook. The downgrade to “A” reflects the impact of the ongoing war in Gaza, the increase in geopolitical risks and military operations on multiple fronts. Data that could worsen even more if there is an escalation in Lebanon or between Israel and Iran.
Fitch writes: “Public finances have been hit and we expect a fiscal deficit of 7.8% of GDP in 2024 and debt that will remain above 70% of GDP in the medium term. In addition, the World Bank’s governance indicators are likely to deteriorate, affecting Israel’s credit profile.”
News from the United States comes that Washington is ready to sell Israel $20 billion worth of weapons. The Pentagon announced that the US State Department has approved the sale to Israel of ammunition for tactical vehicles, medium-range missiles, tanks and mortars.
In a statement from the US Department of Defense to Congress, the United States agreed to sell Israel a fleet of M1148A1P2 medium tactical vehicles and equipment worth $583.1 million, 120 mm tank rounds worth $774.1 million and advanced medium-range aircraft. anti-aircraft missiles “worth $102.5 million; and M933A1 high-explosive fragmentation mortars worth $61.1 million.
A State Department statement to Congress said the sales “could enhance Israel’s ability to counter current and future enemy threats.”
Antonio Albanese e Graziella Giangiulio
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