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Online transactions have grown in popularity among Israeli society.
Shwed lamented his prior silence regarding the judicial reform and its effect on the Israeli economy.
Citibank and Morgan Stanley warned of instability in Israel in light of the approval of the reasonableness standard law.
The report by S&P contrasts to statements made by the IMF and Moody's when they said that Israel faces economic risks because of the judicial reforms.
The president stressed that he's the only person who "everyone is willing to come to and talk to honestly, openly and discreetly."
Moody's said the protests that have engulfed the country for the last 15 weeks were also a factor, but not the main one, in its decision to downgrade the credit outlook from positive to stable.
Lapid's comments came after the rating agency Moody's announced a downgrade of Israel's credit outlook to 'stable,' instead of 'positive.'
Moody's wrote that 'the change of outlook to stable from positive reflects a deterioration of Israel's governance, as illustrated by the recent events.'
If Israel's credit rating drops, Israel can expect a higher interest rate on short-term loans and inflation.
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