Global rating service gives IsraHell economy an A+ rating with a ‘stable outlook,’ over IsraHell response to the global economic crisis, push to lower national debt.
Haaretz
Standard & Poor’s Ratings Service announced it was raising Israel’s credit rating on Friday, citing Israel’s response to a global recession. Israel’s new credit rating is A+ “with a stable outlook.”
In its announcement, S&P said the raise in Israel’s credit rating came following what it called Israel’s responsible reaction to the global economic crisis, adding that the country was on a reliable track toward cutting its national debt and improving its foreign loans status.
S&P also remarked positively on Israel responsible budget policies, which works to lower the debt-product ratio, as well as expected income from natural gas fields which would further work toward reducing debt in the future.
The announcement also added that recent social unrest isn’t expected to influence Israel’s responsible fiscal policy.
Bank of Israel Governor Stanley Fischer congratulated the S&P move, saying that he was happy for the recognition of the Israeli economy’s achievements. Fischer added that the Israeli economy’s good condition was a result of the government’s budget policy, the BOI’s monetary policy, and the business sector’s successful activity.
“I congratulate the government’s intention to continue and maintain a responsible budget policy, while maintaining budget limits, especially in the face of the complex global economic reality which is expected to influence Israel as well,” Fischer added.
Finance Minister Yuval Steinitz also commented on the S&P announcement, saying that it was a “badge of honor for the Israeli economy, and for its successful response to a global crisis that has been threatening Western economies for the last three years.”
