‘Expression of confidence’: Netanyahu fetes S&P decision to maintain credit rating

Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich hail yesterday’s announcement by credit rating agency Standard & Poor’s (S&P) that it was affirming Israel’s favorable rating despite fears stemming from its push to curb the judiciary.

“Israel’s positive rating has been left unchanged in a challenging period for the global economy,” the two say in a brief statement.

“It is an expression of confidence in the correct economic policy that we are leading. We will soon pass the state budget in the Knesset in order to ensure our continued efforts to strengthen the economy and fight the cost of living for the benefit of the citizens of Israel.”

In its announcement, S&P cited “persistent domestic and regional political and security risks” as potential threats to the Israeli economy in its quarterly country report.

The agency said it expected “some form of consensus” over the suspended judicial overhaul bid, which will allow “political tensions to moderate.”