Shafaq News/ On Monday, the Israeli Ministry of Finance reported the costs of the ongoing wars with both Hamas in Gaza and Hezbollah in Lebanon since October 2023.

The ministry stated that "the costs have exceeded 106 billion shekels (28.4 billion dollars)," adding that "the budget deficit reached 11.2 billion shekels in October."

The deficit decreased over the 12 months ending in October to 7.9% of GDP, down from 8.5% in the 12 months ending in September.

The ministry also noted that despite the decrease, the deficit is expected to exceed 6.6% in 2024.