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Israel’s far-right Finance Minister Bezalel Smotrich said on Tuesday that Israel’s military expenses surged to $76.3 billion since the outbreak of the Gaza conflict two years ago.
Smotrich showed the data during a conference outlining the key elements of the 2026 budget, which centers primarily on the defense sector.
He said that it was “necessary to increase the defense budget to enable growth in Israel’s economy in the coming years,” without elaborating further.
Smotrich said that although the war has cost Israel a quarter of a trillion ($76.3B) shekels, he asked the prime minister, Benjamin Netanyahu, to continue the war as long as necessary.
"As I am responsible for the economy,” he stressed.
No details were provided on where the expenses were made, though the total is believed to include costs from Israel’s military campaigns in Gaza, Lebanon, and Iran since October 2023.
The Gaza war came to a halt under the first phase of a ceasefire deal that took effect on Oct. 10, under U.S. President Donald Trump’s 20-point plan.
Phase one includes the release of Israeli hostages in exchange for Palestinian prisoners. The plan also envisages the rebuilding of Gaza and the establishment of a new governing mechanism without Hamas.
Since October 2023, the Israeli genocidal war has killed nearly 69,000 people and injured more than 170,300, according to the Gaza Health Ministry.
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