The international Standard & Poor’s (S&P) credit rating agency affirmed its ‘AA-/A-1+’ long and short term foreign and local currency sovereign credit ratings on Israel, the agency announced Friday. “The outlook is stable.
“The stable outlook balances elevated regional and domestic political risks against the country’s resilient economy, strong balance of payments, and moderate level of public debt,” the agency said.
“Israel’s credit strengths include its wealthy and diversified economy, its net external asset position, and the benefits that accrue from flexible monetary settings and a relatively deep pool of domestic savings.”
S&P noted that Israel benefits from a number of fundamental strengths such as a diversified economy, strong balance of payments, and a “moderate” level of public debt.
In a joint statement issued on Saturday night, Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich called the move “an expression of confidence in the correct economic policy that we are leading.
“We will soon pass the state budget in the Knesset in order to ensure our continued efforts to strengthen the economy and fight the cost of living for the benefit of citizens of Israel,” the statement said.
