The Finance Ministry announced Friday that it had decided to put the 2013 deficit target to 4.65 percent from 3% of GDP, instead of 4.9% as he had originally proposed.
Credit ratings agency Standard & Poor’s on Thursday downgraded Israel’s local currency credit rating to A+ with a stable outlook, from AA-.
Lapid brushed aside the downgrade, saying it “is not surprising. It came in response to a situation we are fixing now.”
Niv Elis contributed to this report