- Jan 26, 2024
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[h1]Israel Can't Afford Escalation With Iran and Gaza[/h1]S&P Global Ratings downgraded Israel's credit rating from 'AA-/A-1+' to 'A+/A-1' as its economy slowed and geopolitical risks increased, marking its latest demotion since Moody's rating relegation in February.
The Gaza war, amplified by the escalation in tensions between Tel Aviv and Tehran, has taken its toll on the Israeli economy since October 2023. In the fourth quarter of 2023, it contracted a whopping 20.7%, far exceeding the initial projection of a 10% slump. The nation's debt increased by $43 billion last year, $22 billion of which was accumulated since the beginning of the hostilities. Israel's national currency, the shekel, has depreciated by more than 4% against the dollar in 2024.
sputnikglobe.com
The Gaza war, amplified by the escalation in tensions between Tel Aviv and Tehran, has taken its toll on the Israeli economy since October 2023. In the fourth quarter of 2023, it contracted a whopping 20.7%, far exceeding the initial projection of a 10% slump. The nation's debt increased by $43 billion last year, $22 billion of which was accumulated since the beginning of the hostilities. Israel's national currency, the shekel, has depreciated by more than 4% against the dollar in 2024.

Israel Can't Afford Escalation With Iran and Gaza
The Gaza war and tensions with Iran have taken a toll on Israel's economy with major rating agencies having downgraded the Jewish state's rating by one notch warning that cuts may go deeper if ongoing conflicts escalate.
