The war is getting expensive for Israel!
"... international ratings agency S&P has announced that it has cut Israel's credit rating from AA- to A+. In addition Israel's credit outlook has been downgraded from 'stable' to 'negative.' The announcement was unexpected, with S&P's official decision on Israel's credit rating not expected until May 10. ...
In addition, the ratings agency sees the government's fiscal deficit widening to 8% - higher than the government's own target of 6.6%. "We forecast that Israel’s general government deficit will widen to 8% of GDP in 2024, mostly as a result of increased defense spending. Higher deficits will also continue in the medium term," S&P wrote. S&P also estimates that Israel's debt to GDP ratio will reach 66% in 2024, up from 60% last year. ...
Of the three major international ratings agencies, Moody's was the first to cut Israel's rating since the start of the war. In February Moody's announced the first ever credit rating cut in Israel's history, as well as cutting the credit outlook to negative. In contrast, Fitch decided last month to leave Israel's credit rating unchanged but cut the outlook. ..."
Of the three major international ratings agencies, Moody's was the first to cut Israel's rating since the start of the war. In February Moody's announced the first ever credit rating cut in Israel's history, as well as cutting the credit outlook to negative. In contrast, Fitch decided last month to leave Israel's credit rating unchanged but cut the outlook. ..."
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