Israel's Economy Has Earned a Few Tiger Stripes
Israel’s highest-ever credit rating is well-deserved, though no reason to be complacent.
On the up.
Photographer: Rina Castelnuovo/Bloomberg
Earlier this month, S&P Global Ratings upgraded Israel’s credit rating for the first time in seven years, to AA-. It was the best report card Israel’s economy has ever had from a rating agency, and a moment to savor. And yet what’s more positive is that Israel is aiming higher.
The report cited Israel’s “exceptionally strong economic performance,” and predicted a growth rate of 3.3 percent of gross domestic product over the next four years. It praised the country’s “prosperous and diverse economy, strong external balance sheet and flexible monetary framework,” as well as its historically low unemployment numbers. It also predicted that the economy could ride out a “potential moderate escalation of security risks.”