Business & Economy

Moody’s downgrades Israel’s credit rating, Netanyahu suspends

Moody’s downgraded Israel’s credit rating to A2 with a negative outlook, due to the war in Gaza and its repercussions that increase political risks for Israel.
Moody’s predicted that Israel’s debt burden was higher than pre-war forecasts.
It also said that the escalation of the conflict with Hezbollah persists, raising the prospect of a significant negative impact on the Israeli economy.
Israeli Prime Minister Benjamin Netanyahu commented on Moody’s decision: “Israel’s economy is solid and the credit rating downgrade is because Israel is at war.”
“Israel’s economy will rise again while we win the war.”
It is noteworthy that the credit rating is carried out by internationally known private agencies, and determines the ability of the country and its economy to meet its obligations in terms of paying its debts, and when the rating is high, lending to this country is easier and the interest of its loans is lower, and vice versa.

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