On Nov. 24, 2003, Standard & Poor's Ratings Services affirmed its 'A-/A-1' foreign currency ratings, and 'A+/A-1' local currency ratings on the State of Israel. The outlook is negative. The ratings on Israel are supported by: An advanced, prosperous, and export-oriented economy. At $16,182, per capita income exceeds that in some EU countries and many of Israel's peers. Although growth has remained below potential over the past three years, a global recovery will lift the economy out of recession over the medium term. Renewed commitment to structural reforms. Despite vociferous resistance from vested interest groups, the government is expected to implement a downsizing of the public sector, as well as continuing with privatizations, and further liberalization of product and factor...
Companies mentioned in this report are:
- Israel (State of)
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