Israel’s public debt-to-GDP ratio rose to 62.1 per cent in 2023 from 60.5pc in 2022 as government spending spiked during the country’s conflict with Hamas in Gaza that erupted in October, the finance ministry said, Reuters reports.

Israel raised 160 billion shekels ($42.3 billion) throughout 2023, the ministry said. The ability to raise large sums even during wartime illustrates high investor confidence in Israel, it said. ($1 = 3.7825 shekels)