Bank of Israel Governor Amir Yaron said on Sunday the country's economy was strong and would recover from the impact of the war, but called on the government to address issues raised by Moody's after the agency downgraded Israel's sovereign credit rating.
Follow Israel Hayom on Facebook, Twitter, and Instagram
"In order to strengthen the confidence of the markets and rating companies in the Israeli economy, it is important that the government and the Knesset act to address the economic issues raised in the report," Yaron said.
He said the economy was "founded on solid and healthy economic foundations, while leading the world in the fields of innovation and technology."
"We knew how to recover from difficult times in the past and quickly return to prosperity, and the Israeli economy has the strength to ensure that this will be the case this time as well."
Moody's cut Israel's country rating to "A2," which is five notches above investment grade, from A1 on Friday, while its credit outlook was kept at negative, meaning a further downgrade is possible.
It cited material political and fiscal risks from Israel's war with the Palestinian militant group Hamas that has been ongoing for more than four months. Moody's had begun the review for a downgrade on Oct. 19.
Subscribe to Israel Hayom's daily newsletter and never miss our top stories!
