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S&P affirms Israel’s AA- rating, citing resilient economy despite security risks

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Credit rating agency Standard & Poor’s (S&P) has kept Israel’s favorable rating unchanged at AA- with a “stable” outlook, the Finance Ministry said Saturday evening, citing the company’s announcement released on Thursday.

The announcement was not readily available on S&P. Still, the agency cited Israel’s strong economic performance in the past year, a robust economy, and an “optimal debt structure,” according to the Finance Ministry.

S&P also expressed concerns over the political and security risks in the country, given the coalition’s loss of its already razor-thin majority and the future political landscape, as well as an ongoing wave of terror attacks that has claimed the lives of 19 people in Israel and the West Bank since late March.

S&P said it expects the Israeli economy to grow at a rate of 5.5% in 2022, following growth of over 8% in 2021, which surpassed forecasts and marking the highest financial growth rate recorded in Israel in 21 years, according to data published in February by the Central Bureau of Statistics.

The OECD had projected growth of roughly 6.3% in 2022 for Israel in its December 2021 Economic Outlook.

S&P noted Israel’s positive........

© The Times of Israel

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