International credit rating agency Moody's confirmed Israel's A1 rating with a stable outlook.

In an announcement attached to its rating, Moody's economists noted that the rating was supported by economic flexibility and the great effectiveness of the Israeli government, which is constantly working to improve Israel's debt and financing figures.

The credit rating agency also states that were it not for Israel's geopolitical risks, its credit rating would be higher.

The credit rating agency describes Israel's economy as very strong, with growth supported primarily by high-tech exports. Writing about this sector, Moody's economists say that it rests on a highly educated population and high R&D expenditure.

Israel's debt is low by international standards, and Israel dealt effectively with the crisis that engulfed the world's economies. Moody's forecasts 2.9% economic growth and 0.6% inflation in 2016, compared with 2.5% growth and minus 1% inflation in 2015.