Moody’s lauded Israel’s improved economic and diplomatic ties with moderate Arab states as well as its solid fiscal performance and economic resilience.
By: JNS and United with Israel Staff
Global-ratings agency Moody’s has changed Israel’s outlook to “positive” from “stable” and affirmed its A1 credit rating.
The Moody’s report, issued on Friday, noted the improved economic and diplomatic ties with the moderate Arab states and said the agency may upgrade Israel’s credit rating again in the near future.
The report said it upgraded Israel’s economic outlook to “positive” from “stable” over its solid fiscal performance and economic resilience.
Moody’s further noted that affirming Israel’s credit rating at A1 reflects its ability to balance a dynamic fiscal environment and a strong institutional framework against long-term structural changes in the labor market and ongoing geopolitical risks.
‘Best Macro Data Since the Country was Founded’
Finance Minister Moshe Kahlon welcomed the report’s findings, saying it was “even more proof that Israel’s economy is stable and robust.”
Kahlon announced that “today, Israel’s economy has presented the best macro data since the country was founded—the lowest unemployment rate, solid growth, a decrease in debt-to-GDP ratio and the highest credit rating ever.”
Finance Ministry Accountant General Rony Hizkiyahu also welcomed the findings, saying that “raising Israel’s rating outlook for the second time in a year reflects our strong fiscal performance and underscores the importance of pursuing a policy that encourages growth while reducing the debt load.”
Speaking at the weekly Cabinet meeting on Monday, Prime Minister Benjamin Netanyahu announced that following the upgrade in Israel’s credit rating, the Cabinet will approve a decision to advance Israeli activity in the field of international development.
“This step continues to establish Israel’s standing in the world. It joins a series of decisions that we have led to strengthen economic ties with global markets, especially India, China and the countries of Latin America and Africa,” Netanyahu stated.
“Israel is a global leader in technology, agriculture, water, health and medicine. We have vast export potential and we are realizing it thanks to the correct policy of the government. The moves that we are leading will strengthen not only the Israeli economy, but also our diplomatic ties on every continent,” he concluded.
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