Rating Agencies Warn Against Israel Due To Reform Legislation

By Arutz-7
Posted on 07/25/23 | News Source: Arutz-7

In the wake of the legislation regarding the reasonability standard, top US credit rating agencies have expressed their concern about the Israeli government's policies.

Moody's announced that there would be a special bulletin regarding Israel released in the near future. Morgan Stanley has stated that 'investing in Israel is unadvisable at the moment due to the uncertainty in the country."

Citibank warned 'investors should wait on enterprises in Israel - the status there is uncertain."

 The Prime Minister and the Minister of Finance dismissed the agencies' concerns: "This is a momentary reaction, when the dust settles it will become clear that Israel's economy is very strong."

"The defense industries are bursting with orders, the gas industry is increasing exports to Europe and 7 companies are currently competing for tenders for gas exploration in Israel with an investment of billions, Intel is planning its largest investment outside the US and will invest 25 billion dollars in Israel, Nvidia is building a supercomputer in Israel, and we are promoting artificial intelligence, cyber and chip manufacturing in Israel, the employment market is tight, growth is rising and inflation is slowing down, regulations are being removed and free market competition is increasing."

"Israel's economy is based on solid foundations and will continue to grow under experienced leadership that leads a responsible economic policy."