Al Mayadeen.net
“Israel’s” trade relations are suffering a serious deterioration in recent weeks, with deals and meetings being canceled even with historically “friendly” nations, amid an atmosphere of secrecy and embarrassment.
Israeli exporters have revealed that companies in Europe and the United States have refused to renew export contracts, while marketing networks have announced a halt to the import of Israeli products “until further notice.”
In this context, Ynet reported that a delegation of experts from the Moody’s rating agency visited Tel Aviv and left with very worrying impressions of the possibility of a rating reduction soon. One official said, “It will be a miracle if a reduction is not made within two weeks.”
A senior economic official who met with Moody’s representatives pointed to extreme concern over the massive rise in defense spending during the war on Gaza, confirming it represents a critical turning point.
The official warned that the Israeli government could lose all control over budget management, threatening a huge rise in the deficit and an accumulation of debt.
