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Up to 60,000 Israeli businesses may close in 2024 as war takes toll on economy

Times of Israel | July 18, 2024

CofaceBDI says 46,000 businesses have shut down since Hamas invasion and slaughter on Oct. 7 amid ongoing war; construction, agriculture and services sectors are hit hardest.

Israeli business will be contending with the fallout of the months-long war with the Hamas terror group through at least the end of the year, which is expected to see as many as 60,000 businesses shut down in 2024, according to business information company CofaceBDI.

The bleak prediction comes as in the nine months since the outbreak of the war with Hamas following the brutal October 7 onslaught by the terror group, a total of 46,000 businesses had to already close as they struggled to stay afloat, with many hurt by a high interest rate environment, more expensive financing costs, a shortage of manpower, a sharp decline in turnover and operations, logistic and supply disruptions, and insufficient government assistance.

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3 Comments on Up to 60,000 Israeli businesses may close in 2024 as war takes toll on economy

  1. 60,000 must be a typo ….

    Once again, the poor, suffering, innocent, persecuted Jews cry out for … your money.

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