The cost of Israel’s wars in the Gaza Strip, Lebanon, Syria and Iran since October 7, 2023 has reached nearly 700 billion shekels, or $205bn, Anadolu reports citing Israeli media.

The figure has been included in a report by Nir Goldberg published on Zman Yisrael, the Hebrew-language service of The Times of Israel, which assesses the economic effect of the conflicts on public finances, production losses and US military support.

Citing Bank of Israel data, the report outlines the cost of the wars to the government has exceeded $118bn.

Defence spending accounts for around $71.2bn of the total, while compensation payments reach $9.6bn, various civilian expenditures stand at $16.7bn and interest costs linked to higher public debt amount to $5.5bn.

The report put the value of US weapons, ammunition and military equipment supplied to Israel at around $26bn.

It adds that the economic burden is not limited to public spending, estimating that lost output in the Israeli economy between October 2023 and the end of 2025 reached around $51.9bn.

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