Israel’s finances are under strain and its budget deficit is widening, as agencies downgrade the nation’s credit.
More than 40,000 Israeli businesses are expected to go bankrupt in the coming months.
Tourism has ground to a halt and consumption, trade and foreign investment have all slumped.
Israel’s war on Gaza is damaging almost every sector of its economy.
This comes as spending and borrowing are both rocketing to finance the mounting cost of the war.
That cost is expected to reach more than $55bn by next year.
Credit rating agencies have downgraded Israel for the first time in its history.
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