Globes: Leader: Israel’s rating at risk
30 July 12 11:42–Leader Capital Markets today says that the government’s latest measures are insignificant, and that Israel’s stable credit rating is at risk.
In a review by chief economist Yonatan Katz, Leader says, “Despite the impression in the media that the government is taking substantial steps, that is not case. There are almost no budget cuts, only tax hikes. We believe that this is too little, too late. Without more substantial steps as part of the 2013 budget, Israel’s stable rating is in jeopardy.”
“Several indicators point to continuing stability in private consumption, such as purchases by credit cards, which rose by an annualized 4.2% in the second quarter. A slight improvement is emerging in business sector trend surveys from a very low level. The Bank of Israel expects 2.8% growth in the second quarter, after 2.7% growth in the first quarter,” Katz says…Read More>>
