Title: Israel Borrows $8 Billion Since the Outbreak of War with Hamas

The Israeli Ministry of Finance announced today, Monday, that "Israel has accumulated debts of approximately 30 billion shekels (7.8 billion dollars) since the outbreak of war with Hamas." It added that "slightly over half of this amount, 16 billion shekels, was debt denominated in dollars raised through issuances in international markets." The ministry also raised an additional 3.7 billion shekels in the local market during a weekly bond auction. The Public Accounts Division of the ministry stated that "Israel's financing capabilities allow the government to completely and optimally fund all its needs." As a result, Israel recorded a budget deficit of 22.9 billion shekels in October, a jump from 4.6 billion shekels in September, leading to a rise in the deficit over the past 12 months to 2.6 percent. The ministry indicated that it "will continue to work through all channels to fund the government’s activities, including all needs imposed by the war and economic and civil assistance domestically."