Israel's US$500 billion (S$672.45 billion) economy has taken a hit during the more than four-month-old war against the Palestinian militant group in Gaza. Former Jerusalem Mayor Nir Barkat made clear that national security was not only paramount but also vital for Israel's economy. ABU DHABI - Israel is committed to winning the war in Gaza and eliminating Hamas regardless of the economic toll on the country, Economy and Industry Minister Nir Barkat said on Feb 26.
Israel's US$500 billion (S$672.45 billion) economy has taken a hit during the more than four-month-old war against the Palestinian militant group in Gaza, during which thousands of people have left the Israeli workforce and gone to serve in the military. But Barkat, who is widely seen a potential candidate to succeed Prime Minister Benjamin Netanyahu, made clear that national security was not only paramount but also vital for Israel's economy. Asked what the risk of a bigger trade deficit and another ratings downgrade might mean for Israel, Barkat told Reuters:"Look, we're committed to win the wa