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Moody's Investors Service reiterated its A2 long-term credit rating and "stable" forecast for Israel in its annual report released Thursday, the Finance Ministry reported.
"The company's announcement testifies that Israel's economy is stable and strong, and indicates the government's ability to continue its fiscal policy and structural reforms that will keep improving the economy's growth potential," commented Finance Minister and Acting Prime Minister Ehud Olmert.
Moody's noted that Israel's policy to shrink the public sector and reduce debt, while keeping interest rates low and encouraging investments in the private sector would create pressure to raise the country's credit rating in the future.
Continuing to pursue reforms that emerged over the past few years would encourage strong growth rates, contain inflation, and reduce unemployment and income disparities over the medium and long terms, the firm said.
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