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‘There is no work’: war with Hamas hits Israel’s economy

Economists forecast sharp contraction and big government deficits as fears mount of extended conflict

Before war broke out between Israel and Hamas, Jeremy Welfeld’s brewery in the Israeli town of Emek Hefer produced 50,000 litres of beer a month, while his 14 restaurants around the country drew in thousands of customers each day.

In the two weeks since the conflict erupted, Welfeld’s businesses have ground to a halt. The brewery has produced nothing; 12 of his 14 restaurants are closed; and in one of the two that remain open, just five people came in during lunch hour on Thursday.

“On a normal day it’s between 50 and 150 people. Do you even open a restaurant [in these circumstances]? I can’t afford my overheads,” he said. “I’m not sure how exactly this is going to play out. It might really be the last straw that might bring down the company.”

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