Prime Minister Benjamin Netanyahu on Saturday criticized the global ratings agency Moody's for downgrading Israel's credit outlook from positive to stable due to concern over the judicial reform.
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The ratings agency showed an imperfect grasp of Israeli realities and a lack of faith in the famous resilience of the local economy, Netanyahu charged in a joint statement with Finance Minister Bezalel Smotrich.
"The concern that Moody's analysts raise about the public controversy and its effect on Israel's political and economic stability is natural for those who do not know the strength of Israeli society," the statement said. "The analysts at the Moody's ratings agency correctly recognize the strength of the Israeli economy in all indices and the correct and responsible economic leadership that we lead, with the wise management of public spending and in the advancement of growth-encouraging reforms."
"As those who believe in the strength of Israeli society, its unity, and its ability to overcome disputes and crises, as it has done many times in the past, we are confident that with God's help, it will be thus once more," it said.
An earlier statement to the press attributed to "sources close to Netanyahu" said that Moody's analysts "are being affected by the atmosphere. They have friends in Israel who are telling them tall tales. Are they informed on the issue? Not really. In conversations with them, we found out that they don't really understand the details."
This article was first published by i24NEWS.
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