What a pleasant way to open the week with good news on Israel's robust economy. The credit rating of Israel remains top-notch, according to the credit rating agency Fitch Ratings. BSemites, you really ought to try harder, apparently. See
this Globes report:
International credit rating agency Fitch Ratings has affirmed Israel's ratings. Israel's long-term foreign and local currency Issuer Default Ratings (IDR) remain at 'A' and 'A+', respectively. The outlooks are Stable. The issue ratings on Israel's senior unsecured foreign and local currency bonds have also been affirmed at 'A' and 'A+', respectively. The Country Ceiling has been affirmed at 'AA-' and the Short-term foreign currency IDR at 'F1'.
"Israel's IDRs balance a strong external balance sheet, robust institutional strength, solid macroeconomic performance and substantial financing flexibility with an elevated government debt/GDP ratio and high geopolitical risks," Fitch's announcement says.
Listing the factors behind the reaffirmed rating, Fitch notes that the central government deficit narrowed to 2.8% of GDP in 2014, the lowest since 2008. "A budget for 2015/16 may not be in place until 4Q15, allowing time for the new government, formed in May, to formulate its fiscal plans. In the absence of a budget, a fiscal rule will keep spending unchanged in real terms, allowing a further narrowing of the deficit. Early indications from the new coalition suggest a more expansionary fiscal stance in 2016," Fitch says.
Israel's economy is strong. Much stronger than to be threatened by a group of hypocrites with megaphones, so it seems.
 |
| Israel's IDR remains A |
