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“Israel's economy will recover, action is needed” - Bank of Israel governor

Greater Middle East (bbabo.net), - “The Israeli economy is strong and will recover from the consequences of the war,” Al Jazeera quotes a statement from Amir Yaron, head of the Bank of Israel. He called on the government to address concerns raised in the Moody's report after the agency downgraded Israel's sovereign credit rating from A1 to A2 on Friday, February 9.

The outlook for Israel's creditworthiness was kept at a negative level, which means a further downgrade of the rating is possible, Yaron emphasized. Moody's cited significant political and fiscal risks associated with Israel's war with Gaza as the reasons for the downgrade.

“To strengthen the confidence of markets and rating companies in the Israeli economy, it is important that the government and the Knesset take action to address the economic issues raised in the report,” the Bank of Israel governor said.

He also added that the country's economy is "based on strong and healthy economic fundamentals" and has managed to recover "from difficult times in the past" and "return to prosperity," Al Jazeera reported.

“Israel's economy will recover, action is needed” - Bank of Israel governor