In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient.

“Israel’s economy bears the burden of the longest and most expensive war in the country’s history,” Smotrich said on September 28, a day after Israeli airstrikes killed Hezbollah’s leader Hassan Nasrallah in Lebanon’s capital Beirut, ratcheting fears that tensions with the militant group would turn into a full-blown conflict.

“The Israeli economy is a strong economy that even today attracts investments.”

Almost a year after Hamas’ deadly attack on October 7, Israel is pushing forward on multiple fronts: launching a ground incursion against Hezbollah in Lebanon, carrying out airstrikes in Gaza and Beirut, and threatening retaliation for Iran’s ballistic missile attack earlier this week.