The Minister of Finance, Benjamin Netanyahu, informed the Government today that the Standard & Poor’s Rating Services has upgraded its outlook on the State of Israel from “negative” to “stable”
Mr. Netanyahu expressed great satisfaction with the report and told the Government that S&P’s statement leaves no doubt that Israel’s budgetary restraint and structural reforms are the most important factors that underlie the improvement in economic indicators, including meeting the deficit target and attaining impressive economic growth.
The Accountant General, Dr. Yaron Zelikha, who hosted S&P’s representatives during their annual visit to Israel, added that the improved outlook will have a very significant effect in international markets, manifested in lowering the cost of raising capital. Dr. Zelikha stressed that the report proves that the structural reforms, taken at the Accountant General’s initiative, lie at the core of the perceptible economic improvement and that their continued implementation is essential for the strength of the economy and for continued lowering of the general-government debt-to-GDP ratio.
