War expected to cost $3 billion per week if current limits on economy persist — Finance Ministry

The cost to Israel’s economy from the war with Iran is estimated to reach NIS 9.4 billion ($3 billion) per week if restrictions imposed nationwide remain in place, the Finance Ministry says.

On Monday, following another assessment amid the conflict with Iran, the IDF Home Front Command extended nationwide restrictions until Saturday night. The restrictions prohibit all gatherings, educational activities and arrival to workplaces, except for essential businesses. The guidelines limit travel to work and force employees to work from home, while schools remain shut.

Finance Ministry Director-General Ilan Rom has sent a letter to Home Front Command chief Maj. Gen. Shai Klapper to ask to ease restrictions and move to limited activity to allow for a gradual, partial reopening of the economy as early as tomorrow.

“There is no dispute about the need to preserve a defense policy adapted to the security situation, but at the same time, the closure of the economy on a broad scale carries heavy economic costs,” says Rom.

“We need a solution that provides a response to both the security needs of the home front and the needs of the economy, after two and a half years in which the economy has been paying a heavy economic price in light of the increase in security needs and the consequences of the [Hamas] war.”