Israel incurs heavy costs in war on Gaza

The Israeli ministry of war ('Defense') has requested an extra 16-18 billion shekels ($4.6-5.2 billion) for 2014-2015, Globes reports Sunday, to cover costs from its brutal carnage against Gaza.

Six to eight billion shekels ($1.7-2.3 billion) covers the cost of the operation itself, according to the report, as well as an additional 11 billion ($3.1 billion) for follow-up costs and rebuilding in 2015.

"The number is far-fetched," a Globes senior economics editor stated Sunday.

"The problem is that the numbers tend to become fixed, even when they are unfounded."