Israel-Gaza War, Economy

Gallant: Economy's Future Depends on Decisive Defeat of Hamas

Gallant said "the strength of security and the strength of the economy are intertwined" in a meeting with the Governor of the Bank of Israel.

Defense Minister Gallant and Bank of Israel Governor Yaron. (Photo: Elad Malka)

With Operation Swords of Iron entering its 42nd day, the war is also having a major effect on Israel’s economy.

Defense Minister Yoav Gallant met yesterday (Friday) with Bank of Israel Governor Professor Amir Yaron. The meeting at the Defense Minister’s office in the Kiryah included officials from the Defense Ministry and the Bank of Israel. During the conversation, Minister Gallant told Yaron that “the future of the Israeli economy depends on a clear-cut victory over Hamas.”

The Bank of Israel Governor surveyed the macroeconomic situation in light of the war’s effects on the economy and the steps the Bank of Israel has taken, as well as the situation of the state budget. The governor thanked the defense establishment for its close cooperation in time of war and quiet. The Defense Minister expressed his appreciation to the BoI governor for his work and contribution to strengthening and fortifying the economy in times of both quiet and war, and noted that the economic perspective is a highly important layer taken into consideration when making wartime decisions.

The Defense Minister and BoI Governor noted that they share the approach that security strength and economic strength are things which are intertwined, and that a clear victory in war is a significant component of future economic growth for the State of Israel. The Defense Minister and the governor also agreed that there is maximal importance in opening up the economy and bringing it back to maximal activity, depending on the security developments and the war.

Yoav Gallant Bank of Israel Operation Swords of Iron Economy

Comments

Do not send comments that include inflammatory words, defamation and content that exceeds the limit of good taste.

The comment was sent successfully.
Soon the response will be examined by our editors and if it is found to be correct it will be published on the website.
The comment was sent successfully.
Soon the response will be examined by our editors and if it is found to be correct it will be published on the website.


Shocking: Defense Minister fired by Netanyahu

This was Gallants' response to his dismissal
Eliana Fleming, JFeed Staff | 05.11.24

Oh how the tables have turned

Sa'ar a year and a half ago: "Galant's dismissal – an act of madness"
Eliana Fleming, JFeed Staff | 05.11.24

US Elections who? 

Despite the elections in the US: Gallant's dismissal stirs the world
Eliana Fleming, JFeed Staff | 05.11.24

Katz reacts to being Gallant's replacement

Israel Katz's first statement as Minister of Defense: "I thank the Prime Minister"
Eliana Fleming | 05.11.24

Bibi means business

Netanyahu reportedly plans to oust IDF, Shin Bet leaders
Avi Nachmani | 05.11.24

Temperatures heat up over Gallant dismissal

Bibi fired Gallant (part 2): Dozens are blocking the Ayalon highways in protest
Eliana Fleming | 05.11.24