2023年10月新一轮巴以冲突爆发初期，以色列国防部在48小时内征召30万名预备役军人，成为该国有史 以来最大规模征兵，此后又迅速补招6万预备役。以色列《新消息报》报道称，这30多万预备役军人每 日光是薪资和食宿支出便超过1亿新谢克尔（1新谢克尔约合0.3美元），加上战损等间接成本以及装 备、弹药和作战行动等花费，每天总支出约为10亿新谢克尔。以色列财经媒体《卡尔卡利斯特》援引政 府内部文件报道称，截至2024年年底，以色列在加沙和黎巴嫩战线上直接与间接支出总额已达约2500亿 新谢克尔。 6月25日，以色列特拉维夫证券交易所内的数字屏幕上除了交易数据，中间还写着"他们比什么都重 要"，"50"指当时被巴勒斯坦伊斯兰抵抗运动（哈马斯）扣押的以方人员人数。（视觉中国） 本报驻以色列特约记者 张 灏 本报记者 唐 亚 编者的话：自2023年10月7日巴以新一轮大规模冲突爆发以来，以色列一度在"七条战线"作战。眼下， 以军仍在加沙持续打击巴勒斯坦伊斯兰抵抗运动（哈马斯）有生力量，并不时空袭也门、叙利亚、黎巴 嫩等多地。然而，在战争持续的背景下，以色列股市却屡创新高。《以色列时报》近日报道称，2024 年，特拉维夫证 ...

Group 1: Market Performance - The Tel Aviv Stock Exchange has become the fastest-growing stock market globally, with a nearly 30% increase in 2024 and a 34.6% rise in the TA-125 index year-to-date, ranking among the top five worldwide [1][2] - Despite the ongoing conflict, the Israeli stock market has shown resilience, with historical data indicating that the TA-125 index typically rebounds after initial declines during conflicts [2][3] Group 2: Government Debt and Military Spending - Israel's government debt has surged from 1.04 trillion new shekels at the end of 2022 to an estimated 1.25 trillion new shekels by mid-2024, with external debt nearing 70% of GDP [2] - The military budget for 2023 is set at 600 billion new shekels, projected to rise to 1.18 trillion by 2025, indicating a significant increase in defense spending [2] Group 3: Financing Mechanisms - Israel has issued war bonds, informally referred to as "war bonds," to finance military expenditures, with a total of $19.4 billion expected to be raised from October 2023 to January 2025 [5][6] - The U.S. has been a major buyer of these bonds, with approximately $5 billion raised from American public and private investors since the conflict began [6][7] Group 4: Economic Impact and Investor Sentiment - The ongoing conflict has severely impacted key sectors such as technology, agriculture, and tourism, with a reported 45% decline in foreign venture capital investment in Israeli technology in 2024 [9] - Despite the stock market's strong performance, underlying economic issues such as structural unemployment and fiscal imbalances may lead to future economic challenges [3][9] Group 5: International Reactions and Divestment - There is growing pressure from international activists and governments for divestment from Israeli companies, with several major funds and companies cutting ties due to the ongoing conflict [10][11] - The financing model of Israel's war bonds has sparked controversy, with critics arguing that international financial capital supports the continuation of military actions [8][11]