Posted on 05/14/23
| News Source: i24
The rating agency praised Israel's 'resilient economy, strong balance of payments and moderate level of public debt'
Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich welcomed Standard & Poor's (S&P) decision to maintain Israel's AA credit rating.
Joint Statement by Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich in Response to the Positive AA- Credit Rating by Standard & Poor's:
— Prime Minister of Israel (@IsraeliPM) May 13, 2023
Israel's positive rating has been left unchanged in a challenging period for the global economy.
"Israel's continued positive credit rating in this time of global economic challenges is a vote of confidence in our current economic policies," said a joint statement on Saturday.
"Soon, we will pass a state budget in the Knesset to ensure the continuation of our efforts to strengthen the economy and fight the cost of living, for the benefit of all Israeli citizens," the two added.
The rating agency praised Israel's "resilient economy, strong balance of payments and moderate level of public debt" on Friday, but also warned of "persistent domestic and regional political and security risks," citing divisions over judicial reform and conflict with terrorist groups in Gaza and the West Bank.