From the Liveblog of
Sunday, August 2, 2020
Treasury warns lack of state budget could hurt credit rating — TV
Add ToI as a Preferred Source on GoogleTreasury officials are concerned Israel’s international credit rating could be downgraded if a state budget is not approved by the end of the month, according to Channel 12.
Finance Ministry Accountant General Rony Hizkiyahu is quoted as warning: “We must be careful. There is no government stability, and there is no budget after three elections. As a result, when the credit rating agencies arrive, this is an indicator for a negative outlook to reduce the rating.”
Netanyahu and Gantz are deadlocked on the budget, with the prime minister insisting on a one-year budget, while the defense minister is demanding a two-year plan, as set out in the coalition agreement. If Israel does not approve a budget by late August, the country could face another election.
The Times of Israel Community.