The data indicate a continued recovery in the last quarter of 2024, with growth of 2.5% on an annualized basis, following a jump of 5.3% in the third quarter.
The ratio has risen nine percentage points over the past two years, largely due to Israel's wars against the terrorist groups Hamas in Gaza and Hezbollah in Lebanon.
From a fall in government revenue to Israel's national deficit: What were the highs and lows of Israel's 2024 economy?
The downgrade dropped Israel by two notches, from A2 to Baa1—the country's lowest score ever—and maintained a negative outlook for its rating.
While it cited intensified geopolitical risk as the key driver in this ratings decision, the agency painted a complex and bleak picture of Israel's economic and political future.
Gold prices rebound as U.S. GDP exceeds expectations, while a 5.5% drop in pending home sales pressures the market. Silver rises, bolstered by Vizsla’s high-grade discovery.
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