Iran Israel War: There is a ceasefire between Israel and Iran for the time being, but both countries have suffered a huge loss in this 12-day war. It will take a long time for both countries to recover from this tragedy.
America, which jumped into the war on Israel’s behalf, has also suffered a setback, but it can easily bear this burden to maintain its dominance in West Asia.
Iran lost about six to nine percent of its GDP in the war
According to some estimates, Iran has lost about six to nine percent of its GDP in the war. Defense analyst Craig said that Iran’s total direct and indirect loss could be between 24 and 35 billion dollars. The attacks by America and Israel have badly destroyed Iran’s infrastructure.
It will take a long time to repair it and will cost billions of dollars. Iran’s oil exports have also been affected by the attacks on energy installations. This can further slow down the pace of the country’s recovery as it is highly dependent on oil exports.
Iranian missiles cause Israel to lose $3 billion
According to a report, Iranian missiles are estimated to cause Israel losses of more than $3 billion. According to the report, this includes the money needed to repair damaged infrastructure and the amount of compensation to be given to local businesses.
Shay Aharonovich, Director General of Israel’s Tax Authority, said that this is our biggest challenge. Israel has never suffered such a huge loss in its history. This figure does not represent the final calculation of the losses caused by the conflict.
Up to $12 billion spent in this conflict – Israel
Earlier, Israeli Finance Minister Bezalel Smotrich had estimated the total cost of the war to be up to $12 billion. However, Israel’s Central Bank Governor Amir Yaron presented a more cautious estimate, telling Bloomberg TV that this amount could be close to half of that. On the other hand, there is talk of America, which jumped into this war on Israel’s side, also getting a loss.
The conflict has inflicted deep economic scars on both Iran and Israel
President Donald Trump ordered Operation Midnight Hammer to target Iran’s nuclear installations. The US is estimated to have made about one to two billion dollars from this operation. These are preliminary estimates. The real cost of the 12-day war is still slowly emerging. But it is clear that the conflict has inflicted deep economic scars on both Iran and Israel.
Iran in more trouble
Iran, already reeling under decades of sanctions, is now in even more trouble with nuclear setbacks and disrupted oil exports. Israel, on the other hand, is facing the most expensive reconstruction effort in its history.