Prime Minister Benjamin Netanyahu trumpeted his government’s lengthy term of service and fiscal responsibility Thursday night, hosting coalition members at the prime minister’s official residence for an annual gathering marking the coalition’s accomplishments.

Netanyahu noted that the government was nearing its fifth year — a feat for Israeli politics — and credited what he called “responsible” economic policies.

“We have weathered the worst economic crisis in 83 years and the greatest shake-up of the Arab world in 90 years,” Netanyahu said. “Amidst these two crises, the most outstanding achievement is that we are an island of stability.”

The prime minister also stressed the importance of passing a “responsible” budget for 2013, saying that providing Israelis with another year of stability would be a significant boon.

Israel’s economy has performed better than most during a time of widespread global economic hardship. But the country has had difficulties of its own. Most recently, tax hikes that drove up prices for bread, beer, cigarettes and fuel have met with public criticism over the cost of living in Israel.