Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh
Israeli PM's office: PM informed Trump he would not attend Sharm el-Sheikh Summit on account of Jewish holidays.
Israeli media: Netanyahu makes last-minute decision to cancel trip to Sharm el-Sheikh.
Al Mayadeen's correspondent: Large crowds gather in Khan Younis to welcome the liberated Palestinian detainees, waving flags of Hamas and Islamic Jihad in celebration
Buses of released prisoners arrive in Ramallah
Israeli media: Netanyahu gifts Trump a "Golden Dove".
Israeli media: Netanyahu will take part in Sharm el-Sheikh Summit.
Trump's Air Force One lands in Tel Aviv

Haaretz bashes Netanyahu over Moody's 'Israel' credit rating downgrade

  • By Al Mayadeen English
  • Source: Haaretz
  • 11 Feb 2024 06:29
3 Min Read

The newspaper says confidence in Israeli Prime Minister Benjamin Netanyahu and his Finance Minister Bezalel Smotrich is "nearing zero".

  • x
  • Haaretz
    Israeli occupation Prime Minister Benjamin Netanyahu, right, speaks with Minister of Finance Bezalel Smotrich during the weekly cabinet meeting at the Security Ministry in "Tel Aviv", Sunday, Jan. 7, 2024. (Pool via AP)

The Israeli newspaper Haaretz blamed Israeli occupation Prime Minister Benjamin Netanyahu for the credit rating downgrade by US ratings agency Moody's for "Israel" over the war in Gaza from A1 to A2, for the first time since 1998, the year the rating began.

In its editorial titled "Netanyahu Lowers Israel's Credit Rating, but Takes No Responsibility," Haaretz pointed to a "black day" on Friday suffered by the Israeli economy over the weekend, where "all the grim assessments came true."

The newspaper noted that the rating downgrade is "not temporary", adding that Moody's believes the effects of the war will last for a long period and that there is no possibility of a rating adjustment upward in the near future.

Haaretz accused the Israeli leadership of failing to get the economy back on track, stressing that confidence in Netanyahu and his Finance Minister Bezalel Smotrich is "nearing zero".

It further noted that Moody's does not believe that Netanyahu and Smotrich "will fix what they have damaged," suggesting that the agency issued such a serious report and announced this dramatic decision for this specific reason.

Smotrich claimed Moody's decision was a "political manifesto that is based on a geopolitical, pessimistic, and unreasonable worldview."

Related News

Palestinian resistance remains steadfast, victorious Larijani says

Hamas hails prisoner release as national milestone for Palestine

"75-76 economists in New York are handing downgrades on whether we agree to a ceasefire or not, [and whether] we are willing to set up a Palestinian state or not, and decided to downgrade our rating because we have, so far, not done so," he added.

Touching on Netanyahu's downplaying of the agency's step, the newspaper mentioned that the Israeli premier claims the credit rating downgrade has nothing to do with the poor budget, deficit, or his failed personal management but a result of the war.

It sarcastically added, "He [Netanyahu] was just a passer-by that found himself in this position."

"The Israeli economy is strong. The rating downgrade is not connected to the economy, it is entirely due to the fact that we are in a war," Netanyahu said on Saturday, adding, "The rating will go back up the moment we win the war — and we will win the war."

In the same context, Haaretz explained that the most specific element for credit rating agencies is the government's budget, noting that Moody's is concerned that the downward trend in the debt-to-GDP ratio has reversed and started to rise.

The newspaper attributed this increase to the arbitrary budget presented by Netanyahu and Smotrich for 2024, which creates a large and dangerous deficit due to the lack of necessary cuts.

It also warned that the new rating is costly, where interest rates will rise, meaning that public debt funding, investments, and services for settlers will become more expensive.

According to the Israeli newspaper, the interest paid by commercial companies will increase, reducing activity and diminishing growth. Additionally, an interest rate increase will affect every household, as mortgage rates will rise, and there is a possibility of inflation, a decline in the shekel exchange rate, and a decrease in the standard of living.

  • Gaza Strip
  • Palestine
  • Moody's
  • Israeli aggression
  • Israel
  • Benjamin Netanyahu
  • Israeli occupation
  • Gaza
War on Gaza

War on Gaza

Most Read

Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
Ceasefire in Gaza takes effect amid conflicting signals and bombings

Gaza ceasefire takes effect; 'Israel' resumes bombing, timing disputed

  • Politics
  • 9 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Freed Palestinian prisoners carry rifles as they arrive in the Gaza Strip following their release from Israeli jails, outside Nasser Hospital in Khan Younis, southern Gaza Strip, Monday, October 13, 2025 (AP)
Politics

Palestinian resistance remains steadfast, victorious Larijani says

Lebanese Army Commander General Rodolphe Laffan inspecting the command structure of the 10th Infantry Brigade in Kfarskhna-Zgharta on October 13, 2025. (Lebanonese Army)
Politics

Lebanese Army chief: Israeli aggression threatens Lebanon's security

Hamas fighters escort buses carrying freed Palestinian prisoners arriving in the Gaza Strip after their release from Israeli jails, in Khan Younis, southern Gaza Strip, Monday, October 13, 2025 (AP)
Politics

154 Palestinian prisoners exiled to Egypt under exchange deal

Israeli Prime Minister Benjamin Netanyahu arrives before US President Donald Trump addresses the Knesset, Israel's parliament, Monday, October 13, 2025 in Occupied Al-Quds. (Kenny Holston/The New York Times via AP, Pool)
Politics

Netanyahu withdraws from Sharm el-Sheikh summit amid regional pushback

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS