Netanyahu, Smotrich respond to Moody’s downgrade: ‘With God’s help’ Israel’s economy will remain strong

Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich issue a joint statement responding to leading ratings agency Moody’s, which yesterday downgraded Israel’s economic outlook from positive to stable.

“Israel’s economy is stable and solid and with God’s help, it will remain so,” the statement reads.

“The analysts at the Moody’s ratings agency correctly recognize the strength of the Israeli economy in all indexes and the correct and responsible economic leadership that we lead, with the wise management of public spending and in the advancement of growth-encouraging reforms,” it says.

Responding to Moody’s assessment that the government’s plans to overhaul the judiciary have impacted Israel’s credit outlook, Netanyahu and Smotrich say: “The concern that Moody’s analysts raise about the public controversy and its effect on Israel’s political and economic stability is natural for those who do not know the strength of Israeli society.”

“As those who believe in the strength of Israeli society, its unity, and its ability to overcome disputes and crises, as we have done many times in the past, we are convinced that with God’s help, it will be so this time as well,” the statement adds.