Intifada and Israeli military surge begot crushing economic crisis in Israel
Israel, Economics, 5/9/2002

The Palestinian uprising and the recent Israeli military operations against occupied Palestinian territories caused, for the first time in the history of the Palestinian-Israeli conflict, a deep economic recession.

This fact was well affirmed by U.S. Wall Street Journal, that stated that vacancy rates in the Israeli hotels amount to 90%.

The same thing applies to the restaurants targeted by suicide bombers. The unemployment ratio came up to 10% among Israelis, which reflects an unprecedented record.

The report published by the American paper added that, for the first time in three decades, the deficit soared up in the Israeli budget where the economic status shrinked by at least 0,6%; the case getting even worse day after another.

The news daily went on to say that the current dispute has resulted into something more than reducing the incomes i.e. dismantling the social ties.

The crime average went up high, as those who live under the poverty line are increasing in number.

Even inside the army, regarded by Israelis as the harbor of dignity and national pride, signs of tension came to appear; as for example the rate of absentees amid reserve forces reached about 30% last year.

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