S & P's confirms Israel's A+ credit rating with a stable outlook
Credit rating agency says d that 'the stable outlook reflects our expectation that the government will maintain stable public finances and that the impact of security risks on the Israeli economy will be contained'.
International credit rating company Standard & Poor's on Friday said that it was leaving Israel's credit rating unchanged at A+ with a stable outlook.
This was S & P's second rating confirmation since their representative's last annual visit of Israel in June, 2015.
The company's announcement stated that "the stable outlook reflects our expectation that the government will maintain stable public finances and that the impact of security risks on the Israeli economy will be contained over the next two years."
S & P's estimated that Israel's fiscal deficit for 2016 will be below 3% of GDP. The report also noted that the stable outlook reflects the company's assessment that the impact of security risks on the Israeli economy will remain limited.
The rating agency commended the government's efforts in the housing sector. It stated that the government implemented a series of measures in order to release land for development, reduced bureaucracy in order to accelerate the process of issuing building permits and is also changing the criteria for construction tenders.
