Israel is facing a critical economic situation, with a widening budget deficit and a bleak forecast of over 40,000 businesses expected to go bankrupt, highlighting the severe impact of the ongoing war on Gaza on almost every sector of its economy.
The unprecedented downgrade by credit rating agencies signals a significant shift in Israel's financial stability, as spending and borrowing spiral due to the escalating costs associated with the war, projected to exceed $55 billion by next year.
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