Photo: Index Open
The Fitch credit rating agency announced Wednesday that it had ratified Israel's credit rating and set it to "'A,' with a stable outlook."
In a statement issued Thursday, Fitch noted Israel's macroeconomic performance and said that the forecast was deemed stable "despite the crisis with Iran and the talk suggesting a possible Israeli strike on the Islamic Republic's nuclear facilities."
Fitch further estimated that Israel's economy will not surpass a 3% growth rate in 2012, and further estimated that the country's economic growth in 2013 will stand at 3.5%.
Central Bureau of Statistics, Israel Export Institute say nation's export totaled $90 billion in 2011 compared to $6 million in 1948, noting growth of 1,400,000%
The credit agency did qualify its statement, saying the forecast "does not include Israel’s natural gas discoveries," which are bound to affect the local market.
Following the statement Finance Minister Yuval Steinitz said that, "Given the economic situation in the international markets, the ratifying of the rating is a testament to the stability and strength of our economy.
"In addition, the announcement further emphasizes the importance of maintaining fiscal discipline."