Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich responded to the statement by the Moody's rating agency expressing concern over investing in Israel following the passage of the 'Reasonableness Standard' bill yesterday.
"This is a momentary response; when the dust clears, it will be clear that the Israeli economy is very strong," Netanyahu and Smotrich said.
"The security industries are bursting with orders. The gas industry is increasing exports to Europe and seven companies are now competing for tenders to explore for gas in Israel at an investment worth billions. Intel is planning its largest investment outside of the US ever and will invest $25 billion in Israel. NVDIA is building a supercomputer in Israel and we are moving forward in AI, cyber and the manufacture of chips in Israel. Growth is increasing and inflation has been blocked. Regulation is being lifted and free market competition is increasing.
"The Israeli economy is based on strong fundamentals and will continue to grow under experienced leadership that is enacting a responsible economic policy" the statement concluded.
Earlier, the Moody's credit agency announced that there would be a special bulletin regarding Israel released in the near future. Morgan Stanley also stated that "investing in Israel is unadvisable at the moment due to the uncertainty in the country."
Citibank warned 'investors should wait on enterprises in Israel - the status there is uncertain."