Hezbollah War Costs Israel Over $1.6b
Ryan R. Jones - All Headline News Correspondent Jerusalem, Israel (AHN) - The first month of Israel's war with Hezbollah cost the country over $1.6 billion, Finance Minister Avraham Hirchson estimated Wednesday. If a newly-approved expanded ground offensive is put into action, that number will more than double in the coming month. Hirchson announced in a statement carried by The Jerusalem Post that at this point, $500 million would have to be cut from the 2006 national budget to fund the fighting along Israel's northern border. As as yet undetermined sum would be needed for recovery efforts in those towns hardest hit in more than 3,000 Hezbollah rocket attacks. Hirchson stressed, however, that the needed funds would not be provided by raising taxes or imposing other charges on the public, nor would Israel exceed its approved budget for the fiscal year. Maintaining the appearance of financial stability was of utmost importance, he said, even in a time of war. Finance Ministry Director-General Yossi Bachar added that Israel is looking to "send a message to the markets that we are consistent and maintain our policy. ...We do not break our budget framework." Israel will be assisted in that effort by the likes of US filmmaker Steven Spielberg, whose Righteous Persons Foundation announced it would be donating $1 million towards relief efforts related to the war with Hezbollah. The AP reported that the money will |
