The Israeli occupation army continues a violent attack on the cities and towns of the Gaza Strip for the second day in a row since the end of the truce with Hamas.
The Israeli occupation army launched intense air, sea and ground attacks on the Gaza Strip on Saturday, for the second day in a row since the end of the truce with Hamas, which allowed for the release of detainees and prisoners and the delivery of urgent aid to the besieged Strip.
The occupation focused on targeting the city of Khan Yunis in the south of the Gaza Strip, where it continued to launch intensive raids and a series of fire belts on citizens’ homes in Sheikh Nasr and Bani Suhaila. Fragments of the fire belts also reached an UNRWA school where hundreds of refugees were sheltering, according to the Palestinian News Agency (Wafa).
A TRT Arab correspondent from the Gaza Strip reported that the sounds of Israeli tank artillery shells did not subside from night to morning, as they continued to bomb the eastern border in Abasan and Al-Qarara, east of the Khan Yunis area.
In addition to the aerial and artillery bombardment, Israeli warships opened heavy machine-gun fire on the coastal areas of the city of Deir al-Balah in the central Gaza Strip, and dropped dozens of flare bombs in the sky of the city.
On Friday, the occupation army sent flyers calling on residents of the areas east of Khan Yunis to leave and migrate to the border city of Rafah, which witnessed the bombing of a number of homes, as a result of which dozens of civilians were martyred, according to the correspondent.
The northern Gaza Strip also witnessed a number of fire belts in the Jabalia area, and a TRT Arabi correspondent reported that the occupation aircraft bombed the area with white phosphorus, which led to fires igniting throughout the night.
At the field level, the correspondent said that violent clashes were taking place between resistance members and the occupation army in Beit Lahia, north of the Gaza Strip.
Yesterday morning, Friday, a temporary truce between the Palestinian resistance factions and Israel ended, concluded with Qatari-Egyptian mediation, and lasted 7 days, during which prisoners were exchanged and humanitarian aid was brought into the sector, which is inhabited by about 2.3 million Palestinians.
Immediately after the end of the truce, Israel resumed its military operations, targeting various areas in the north, center and south of the Gaza Strip, resulting in 178 martyrs and 589 wounded as of Friday evening, according to the Palestinian Ministry of Health in Gaza.
The truce came after a devastating war waged by Israel on the Gaza Strip, since October 7, which left massive infrastructure destruction and tens of thousands of civilian casualties, most of them children and women, in addition to an unprecedented humanitarian catastrophe, according to official Palestinian and UN sources.
A violent wave of bankruptcy, What awaits the Israeli economy and companies in light of the aggression?
In light of Israel's failure to achieve the goals it announced with the launch of its military operation and its continuing aggression in the Gaza Strip, citizens and companies alike are exposed to violent waves of bankruptcy that would leave profound effects on the country's economy, which suffers from a lack of demand and labor.
In a report published Thursday, the Israeli newspaper Calcalist reported that five major Israeli banks allocated 3.1 billion shekels (about 830 million US dollars) for credit losses in the third quarter, due to the recent war on Gaza, a move that experts read as a cover to confront a wave of bankruptcy that will hit companies. Small.
While the first shock of the Al-Aqsa Flood operation shook the Israeli markets, causing the main index of the Tel Aviv Stock Exchange to fall and the price of the shekel to decline against the dollar, investors expected that the continuation of the aggression for a long period would bear major economic costs on small companies and poor families.
Small businesses are in the lurch
The Israeli banks' move comes as part of steps to form a security cushion for an imminent economic crisis scenario caused by war, which would lead to a wave of loans to those who will face difficulties. The allocation of NIS 3.1 billion to credit losses in the third quarter represents a 6.9-fold jump compared to the previous quarter, when the figure was only NIS 448 million.
Banks are considered the small business sector most vulnerable to the economic damage resulting from the war. From the banks' point of view, this does not pose a major risk, as credit to small businesses constitutes about 10% of their credit portfolio on average, but there is no doubt that if a wave of bankruptcies and closures of small enterprises and companies occurs, it will be a strong blow to the economy.
It was not just the war that harmed small Israeli businesses. Small businesses entered the war from a weak point, as the slowdown in the economy had a negative impact on their income, and the rise in interest rates led to a sharp increase in financing expenses, and inflation led to an increase in their expenses.
The war came as another strong blow to most small-sized companies. Banks also stated that they are aware of the distress in sectors such as tourism, trade, entertainment, and restaurants, as well as the industrial and commercial sectors in the evacuated areas.
A wave of poverty hits thousands of families
According to a report published by the Israeli newspaper Haaretz on Thursday, thousands of families with a weak economic background will suffer from the risk of a deterioration in their economic situation, as the war on the Gaza Strip continues. Which would have a major impact on the Israeli economy.
Preliminary data collected by the Israeli Ministry of Welfare and Social Security indicates a risk of deterioration in the situation of families with difficult economic backgrounds and an increase in the number of requests for assistance. Ministry representatives said, “We are currently in the first stage of determining the scope of the deterioration with the aim of preventing it.”
In discussions at the Prime Minister's Office, social welfare representatives warned against "flooding the market with non-bank loans and the spread of the parallel market, which families will be tempted to use because of the economic difficulties they have fallen into."
Among other things, the aid rate has quadrupled for poor families who have to pay rent or mortgage, as well as "unusual requests" from families seeking to use the aid to buy food products.
Huge economic losses
Speaking to the Financial Times, Jay Beit Orr, chief economist at Psagot Investment Company, indicated that the economic repercussions of the war may be worse than the month-long confrontation between Israel and Hezbollah in 2006, one of its largest recent wars, and that economic output may shrink by It reaches 2 or 3% between the third and fourth quarters.
“We are facing a long process and it will lead to huge losses in the Israeli economy,” Or said. “People are canceling holidays, parties and events. People are staying at home and children are staying at home, so many people cannot work.”
As the scale of the potential impact became clearer, demands for government assistance increased. On October 19, Finance Minister Bezalel Smotrich announced a plan to help companies whose revenues have been damaged to cover their fixed costs, in addition to financial assistance for workers unable to get to work. The Central Bank also intervened, and then announced that it would sell up to $30 billion in dollar reserves to support the shekel.
In a related development, Smotrich said that as a result of the aid plans, the government deficit may rise to 3.5% this year, more than the 1.1% that was previously targeted. While economists expected a much larger deficit next year.