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The high credit rating reflects “the strength of the Israeli economy and the correct and responsible economic policy that we are leading on behalf of Israel’s citizens,” Netanyahu said.
By: United with Israel Staff
The Standard and Poor’s (S&P) global credit rating agency announced Saturday that it has upgraded Israel from A+ to -AA, the highest rating Israel has ever had, putting it on par with the Czech Republic and Qatar.
Ynet News reported Sunday that the new rating is a very significant achievement for the Israeli economy and indicates confidence in the government’s ability to maintain a responsible fiscal policy.
On the practical level, the high rating will allow the government to raise funds under better terms.
Raising the rating to -AA puts Israel among a relatively small list of 17 countries and places it above others such as China and Japan.
S&P analysts noted the success of Israel’s government, despite internal coalition differences, in passing the 2017-2018 budget as well as that for 2019 – and more important, its success in maintaining fiscal discipline, Ynet reported.
S&P’s dramatic announcement came just days after global-ratings agency Moody’s changed Israel’s outlook to “positive” from “stable” and affirmed its A1 credit rating.
The Moody’s report, issued last month, 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.
Prime Minister Benjamin Netanyahu stated that “the decision by Standard & Poor’s to raise Israel’s credit rating joins a similar decision by Moody’s. These decisions reflect the strength of the Israeli economy and the correct and responsible economic policy that we are leading on behalf of Israel’s citizens.”
Send Passover Packages to Needy Israeli Soldiers - Bring Them Joy!
We are honored to thank the young men and women of the IDF who risk their lives every day to protect the citizens of Israel. Since October 7th, soldiers have been on the battlefield for months - many are hoping to come home for Passover.
Join us in sending Passover food packages (and personal notes) to Israeli soldiers and their families.
Many soldiers spend the Passover holiday with needy families back home. The soldiers greatly appreciate your love and concern. Bring them Passover joy!
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