Standard & Poors over the weekend announced it is raising its rating for Israel, which is now “AA”. The announcement by the credit rating company signals the Prime Minister and his cabinet, especially Finance Minister Moshe Kahlon, that the current economic policies are viewed favorably by the international economic community.

During the weekly cabinet meeting on Sunday morning, 24 Menachem Av, Prime Minister Binyamin Netanyahu stated, “Over the weekend we received important news. The credit rating company Standard & Poor’s raised Israel’s rating to AA, which positions Israel among the strongest economies in the world. This joins, of course, the confirmation of Israel’s credit rating by Moody’s several weeks ago.

“This attests to the responsible economic policy that we in the government have been conducting – the Finance Minister and fellow ministers. This policy has led to continuous growth in the Israeli economy. As I read some of the analysts who say ‘Continuous growth, but it has not improved the lot of the weak’ – this is simply incorrect. Year after year we see a decline in the disparity index, which is improving step by step, because we are combining, first of all, a free market policy with entry into the labor force, and as soon as people enter the labor force their situation improves. And indeed, the policy here is correct both economically and socially, and we will continue on these two axes on behalf of the citizens of Israel.”

(YWN Israel Desk – Jerusalem)