Following Fitch’s downgrade of Israel’s credit rating on Monday, the Israeli Prime Minister said Israel’s economy is resilient and will bounce back after Israel wins the war.
Netanyahu said, “Israel’s economy is resilient and functioning well,” the Prime Minister’s Office said. “The rating downgrade is a result of Israel facing a multifront war that was imposed on it. The rating will rise back when we win — and we will indeed win.”
Fitch downgraded Israel’s credit rating from an A plus to an A because of a “conflict in Gaza could last well into 2025.”
Fitch, followed by S&P and Moody’s, lowered Israel’s credit rating as a result of the ongoing war with Gaza.
The agency raised concerns about “additional military spending, destruction of infrastructure, and more sustained damage to economic activity and investment.”
