The Moody’s rating agency warned Thursday that it could downgrade Israel’s credit rating due to the ongoing war on Gaza.
“While a short-lived conflict could still have credit impact, the longer lasting and more severe the military conflict, the greater its impact is likely to be on policy effectiveness, public finances, and the economy,” Moody’s said in a statement.
MAARIV: 80% of Israelis hold Prime Minister Benjamin #Netanyahu responsible for the failure and the victims of the attack from the #Gaza Strip.
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— The Palestine Chronicle (@PalestineChron) October 20, 2023
Moody’s added that its review will take into account the duration and scale of the conflict and how it affects Israel’s economy, institutions, and public finances.
Last July, the credit agency had already warned that the controversial judicial overhaul could have plunged the country into instability, therefore hurting its economy and security.
More Palestinian civilians were killed and nothing is spared, neither mosques nor churches nor hospitals. Yet the resistance continues…
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— The Palestine Chronicle (@PalestineChron) October 20, 2023
On October 7, Hamas launched the Al-Aqsa Flood operation, a surprise attack that included rocket launches and infiltrations into Israel, by land, sea, and air.
The Israeli army launched a military aggression on the Gaza Strip, which killed 4,137 Palestinians and injured over 13,000 more.
(The Palestine Chronicle)
