Jerusalem: Israel's military expenses surged to $76.3 billion since the outbreak of the Gaza conflict two years ago, official data showed on Tuesday.
According to Anadolu Agency, Israel's public broadcaster KAN, citing finance ministry data, reported that the war expenses have so far totaled 250 billion shekels ($76.3 billion). Senior ministry officials stated that the defense establishment misused reserve service days, leading to 'the waste of billions of shekels' in payments to reservists during service periods.
Israel's far-right Finance Minister Bezalel Smotrich addressed the situation at a press conference, indicating that it was 'necessary to increase the defense budget to enable growth in Israel's economy in the coming years,' although he did not provide further details. The specifics of the expenses were not disclosed, but the total is believed to include costs from Israel's military campaigns in Gaza, Lebanon, and Iran since October 2023.
The Gaza war paused under the first phase of a ceasefire deal that took effect on Oct. 10, as part of US President Donald Trump's 20-point plan. Phase one includes the release of Israeli hostages in exchange for Palestinian prisoners, along with plans for rebuilding Gaza and establishing a new governing mechanism without Hamas.
Since October 2023, the conflict has resulted in nearly 69,000 deaths and over 170,300 injuries, according to the Gaza Health Ministry.