Moody’s Presents Positive Evaluation of Israeli Economy
International credit ratings corporation Moody’s presented a positive evaluation of Israel’s economy in its latest report, issued Monday, according to Israel Hayom. The agency says Israel is economically strong, institutionally and fiscally, and has the capability to weather tough global economic crises, as it did in 2008-9, and again in the current crisis.
Moody’s economists pointed out that Israel’s economic performance was supported by a rising gross domestic product per capita, which crossed the 120,000 shekel ($30,000) annual threshold. Moody’s also ratified Israel’s credit rating, which has stayed at A1, the highest rating given in Moody’s upper-medium grade. Analysts predict a stable future for Israel and do not expect any changes in its rating.
The credit ratings are determined by four criteria: economic strength, institutional strength (including the Bank of Israel and the Finance Ministry’s regulation of the economy); the current state of the banking and financial systems, and susceptibility to event risk.