Israel’s Credit Rating Kept at A-Plus by Standard and Poors
Image by getty images
Standard & Poor’s will leave Israel’s credit rating unchanged at A+, projecting its economy will remain stable.
The announcement follows an annual visit by S&P representatives a month ago. The delegation met with Finance Minister Yair Lapid, high-ranking officials in the Finance Ministry and the Bank of Israel, as well as, seniors in the public and private sectors.
In the announcement, the company said the decision to leave the credit rating unchanged was due to the government’s fiscal responsibility in its 2013-2014 budget. The government projects a slight decrease in the cost of country’s debt.
The company says the stable rating projection reflects the belief of its analysts that the Israeli government will continue its conservative fiscal policy, and that the effect of the security risks on Israel’s economy will remain mild and under control.
The announcement stressed that the rating reflects the fact that Israel’s economy is diverse and flourishing, the positive effect of the natural gas production on Israel’s balance of payments, and Israel’s monetary flexibility. The company believes that the geopolitical risks and the government’s improving finances are the main constraint on Israel’s rating.
For more go to Haaretz
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you move on, I wanted to ask you to support the Forward’s award-winning journalism during our High Holiday Monthly Donor Drive.
If you’ve turned to the Forward in the past 12 months to better understand the world around you, we hope you will support us with a gift now. Your support has a direct impact, giving us the resources we need to report from Israel and around the U.S., across college campuses, and wherever there is news of importance to American Jews.
Make a monthly or one-time gift and support Jewish journalism throughout 5785. The first six months of your monthly gift will be matched for twice the investment in independent Jewish journalism.
— Rachel Fishman Feddersen, Publisher and CEO
