Oslo War Costs Israel $8.5 Billion

(Updated Tuesday 10 AM) Bank of Israel economists announced earlier this month that Israel will have lost a total of $8.5 billion in growth by the end of 2002, as a result of the Oslo War, which began in September of 2000. Israel’s growth for 2002 alone will be reduced by an additional 3.5-5%.

Aug 13, 2002, 9:25 AM (GMT+3)

(Updated Tuesday 10 AM) Bank of Israel economists announced earlier this month that Israel will have lost a total of $8.5 billion in growth by the end of 2002, as a result of the Oslo War, which began in September of 2000. Israel’s growth for 2002 alone will be reduced by an additional 3.5-5%. Economists say that the Arab violence has particularly taken a toll in the areas of investment, tourism, exports, and private consumption.