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Standard and Poor's Affirms Israel's A+

05 February 2017

Standard and Poor's Affirms Israel's A+

 

International credit rating agency Standard & Poor's affirmed the credit rating of the State of Israel at A + with a stable outlook.

 

Finance Minister Moshe Kahlon: "Ratification of the credit rating is further evidence of the strength and stability of the Israeli economy. We finished the year with stronger economic data, the level of unemployment is the lowest of all time, the ratio of debt to GDP fell dramatically, and the deficit is smaller than expected.

 

In spite of this we have significantly increased costs of social ministries and delivered within budget reforms that will increase competition in the economy and help reduce the cost of living. We continue to lead the Israeli economy decisively and responsibly with the policy of free economy and social sensitivity."

 

CFO, Ronnie Hezekiah: "The affirmation comes against the background of strengths in fiscal data, including a low deficit and the continuing decline of the debt."