The Israeli Manufacturers’ Association has released a report admitting to the huge economic damage sustained by the Zionist entity as a result of the barrage of missiles coming from the besieged Gaza Strip during the Palestinian resistance’s Operation al-Quds Sword
The report says Israeli businesses lost 1.2 billion shekels ($368 million) during the 11 days of fighting between Israel and the Palestinian resistance groups based in Gaza.
The association, which represents some 1,500 firms and 400,000 workers, said the loss was mostly due to employees choosing to stay at home due to the nearly nonstop rocket fire from Gaza.
The main industrial group pointed out that about a third of workers were absent from work in southern Israel, and about 10% stayed home in areas closer to the commercial hub of central Israel during the war.
“The non-arrival of workers led to a significant decrease in the outputs of industrial companies, a decline in sales and a direct harm to revenues,” it said.
Fifty Israeli factories suffered millions of shekels in direct damage from rocket shrapnel, though the manufacturers association did not include in its estimate indirect damage, like cancelled orders.
In the 2014 war, which lasted seven weeks, Israel’s central bank estimated Tel Aviv’s economy took a 3.5 billion shekel hit, plus nearly the same amount in damages to the tourism sector.
Source: Press TV
