International credit rating agency Fitch left Israel’s sovereign debt rating unchanged at A with a stable outlook, but warned that the country needs to reduce its debt load. Finance Minister Yuval Steinitz received the company’s decision warmly, declaring it a ‘”certificate of honor for Israel, which has shown the strength of its economy and the success of the government’s economic policy.’” However, the Finance Ministry has been disappointed that the international rating companies aren’t raising the country’s rating given the Israeli economy’s strength in the face of the global financial crisis. The OECD is predicting that Israel’s economy will expand by 4.5% this year.
Source: TheMarker
