Two years of war have pulled the mask off Israel’s economy. The numbers aren’t rhetoric; they are a ledger of exhaustion. An 8.5% deficit by late 2024 after sitting near 1.5% the year before. Debt gliding toward 70% of GDP. War costs near $55–56 billion over 2023–2025. Growth slipping to ~2%, which means negative per-capita growth. Credit downgrades – which is like raising the price of oxygen exactly when the patient needs the ventilator. Defense spending locked in as a structural drain. This is not the “startup nation” poster; this is a shutting down nation that will desperately need outside capital.
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