Israel’s Bank Governor Amir Yaron expressed confidence on Sunday that the country’s economy will recover from the impact of the war and continue to thrive. Yaron emphasized the importance of addressing economic issues raised by Moody’s after it downgraded Israel’s sovereign credit rating. He noted that in order to restore confidence in the Israeli economy, the government and Knesset need to take action to resolve the problems highlighted in Moody’s report.
Despite the downgrade, Yaron expressed optimism about the future of Israel’s economy. He praised the country for its strong foundation and leadership in innovation and technology. Yaron expressed confidence that Israel will be able to overcome this challenging period and quickly return to prosperity.
Moody’s decision to downgrade Israel’s credit rating was based on perceived political and fiscal risks caused by ongoing conflict with Hamas. The review for a potential downgrade began on October 19th. Despite this, Yaron is confident that Israel has what it takes to overcome this difficult time and continue to flourish as it has done in the past.