Israel’s Credit Rating Decline: Smotrich Suggests New York Economists Are Making Assessments from Afar

Bezalel Smotrich Slams Moody’s Decision to Lower Israel’s Sovereign Credit Rating: A Political Attack or Economic Concern?

Finance Minister Bezalel Smotrich has criticized Moody’s decision to lower Israel’s sovereign credit rating for the first time in history. Smotrich believes that the decision is politically motivated and lacks serious economic arguments.

According to the minister, Israel’s economy is strong and has the resources to support the war effort and return to rapid economic growth. He emphasized that Israel’s strength comes from a deep belief in its path and commitment to ensuring a glorious future, which will not be weakened by Moody’s statement.

Smotrich also made additional attacks on Moody’s during a television program, criticizing its assessment of why Israel has not created a Palestinian state or declared a truce. However, Moody’s downgrade was based on concerns about the consequences of the ongoing war in Gaza, military escalation on the Lebanese-Israeli border, and the instability of the current Israeli government.

Despite this downgrade, Moody’s did not rule out an upgrade in Israel’s credit rating if policies are formulated that support economic growth and restore security after hostilities end. However, an escalation of the situation on the northern border or weakening of public institutions could lead to further downgrades in the future.

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