11:29
Reported

News Brief

  12/5/2010, Kislev 28, 5771

Treasury: Fire to Cost NIS 3 Billion Minimum


The Carmel fire is likely to cost a minimum of NIS 3 billion – 4 billion, initial Treasury estimates said. Not all that money will come out of state money, however, as part of it will be paid by insurance companies. The figure is the estimated payment to homeowners whose property has been damaged, cleaning up the damage to the Carmel National Park, and the increased funding that will be given to Israel's firefighting efforts as a result of the fire.

Not included in the figures is the eventual development cost for restoring the forest to its former glory, which will take decades, officials said.