"an alarming response"?
Prime Minister and Minister of Finance (Photo: Flash 90, Yonatan Zindel)
The Forum of Economists who signed the "Letter of the Economists", the document published by senior economists in Israel in which they warned of the possible consequences of the legal revolution on the Israeli economy, watched the response of the Prime Minister and the Minister of Finance to Moody's rating and were amazed: "The response to the severe report of the Moody's credit rating agency" The economists
wrote, adding
: "It brags about the achievements of the previous government, such as reducing the deficit and passing on important reforms, adds to this bragging unsubstantiated promises that have been repeated and voiced for many years, and above all, it ignores the content of the warning.
The praise recorded in the report on the strength of Israeli democracy specifically referred to the strength of civil society's opposition to the coalition's dangerous measures, and it is strange that Smotrich and Netanyahu chose to be proud of this as well. The positive points in the report concerned the ability of Israeli society to oppose the government's measures, all the negative points concerned the government's plans. .
Opponents of the legal revolution march to Ayalon.
"It's strange that Smotrich and Netanyahu chose to be proud of this too," the economists write (Photo: Reuven Castro)
The publication on behalf of the Economists Forum also states: "Unfortunately, the dangers we warned about in our clear warnings are materializing one by one. The markets, economists in Israel and the world, and now also credit rating agencies do not share the belief of Smotrich and Netanyahu that Israel's economic leadership is 'correct and responsible' and excels in -'Wise management', and they say this in a way that is not ambiguous.
As can be seen from the two attached charts, since the government was established, the Israeli stock market has underperformed significantly compared to the US stock markets, and the lack of trust in the Israeli government has led to a sharp increase in the risk premium on The debt of the State of Israel, as reflected in the price of Israel's CDS contracts (contracts used as insurance against defaults)
.
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economy
Benjamin Netanyahu
Bezalel Smotrich
