Newspaper: War with Hamas will cost Israel more than $50 billion

The cost of Israel's war against Hamas in the Gaza Strip will amount to up to 200 billion shekels ($51 billion), the Israeli economic newspaper Calcalist reported on Sunday, citing preliminary figures from the Finance Ministry.

The newspaper explained that the cost estimate, which is equivalent to 10 percent of the gross domestic product, is based on the possibility of the war continuing for 8 to 12 months, with the matter limited to Gaza, without the full participation of the Lebanese Hezbollah, Iran or Yemen, as well as on the basis of the rapid return of about 350,000 Israelis who were recruited into the reserve forces to work soon.