The economy of Israel has plunged to record levels of poverty due to blows from three fronts.

The State of Israel is currently facing difficulties on three serious fronts in succession. Zamin.uz reported this.

As a result of conflicts with the Hamas movement, Hezbollah group, and Iran, the country has dealt a record blow to its own economy. According to official data announced by the Central Bank of the country, direct material losses incurred since the start of the conflict in the Gaza Strip have amounted to 57 billion dollars.

This figure represents a very heavy burden for the country's population and entrepreneurs. The situation is becoming even more complicated against the backdrop of escalating diplomatic and military tensions with Iran and Lebanon.

Funds allocated for conducting military operations have increased sharply, putting serious pressure on the state budget. As a result, public debt has approached nearly seventy percent of the gross domestic product.

This situation may threaten financial stability in the future. At the same time, Israel's export volumes to foreign markets continue to decline steadily.

The contraction in the volume of external trade is negatively affecting the activities of manufacturing enterprises. This state of the economy is leading to rising prices within the country and a reduction in employment opportunities.

The government is currently taking active measures to find ways to stabilize the situation and provide assistance to the people. However, as military operations continue, a further deepening of economic difficulties is expected.