The impact of the Israeli Occupation’s prolonged military campaign in the Gaza Strip continues to strain the nation's finances, with the budget deficit steadily increasing throughout the year.

As of August 2024, the deficit relative to “Israel's” GDP has risen to 8.3 percent, up from 7.6 percent in June and 6.2 percent in March. In December 2023, the deficit was 4.1 percent, according to Anadolu Agency reports.

From January to August 2024, Israel's budget deficit reached 84 billion shekels (USD 22.38 billion), a significant shift from the 0.3 billion shekels (USD 79.9 million) surplus recorded during the same period last year.

Expenditures for the first eight months of 2024 surged by 31.8 percent compared to the previous year, while revenue growth remained modest at just 4 percent, according to data from “Israel’s” Finance Ministry.

In August alone, the budget deficit ballooned to 12.1 billion shekels (USD 3.22 billion).