A joint statement issued by Israeli Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich today (Saturday) said that Israel's economy is stable and solid.

This came in response to Moody's decision to lower its outlook for Israel's credit rating from positive to stable.

"Moody's rating agency analysts correctly recognize the strength of the Israeli economy in all indicators, sound economic leadership and the responsibility we have in prudent management of public spending and in promoting growth-promoting reforms," the statement said.

"We are issuing a responsible, growth-oriented and infrastructure budget and maintaining budget frameworks in order to combat inflation and the cost of living, and promote a dramatic settlement law that will allow the acceleration of national infrastructure projects, remove barriers in housing and imports, reduce regulation and bureaucracy, and enhance competition in the market," the statement added. Capital and the banking industry.

The statement indicated that the "concern" raised by Moody's analysts about the public debate and its impact on Israel's political and economic stability is normal for those who do not know the strength of Israeli society.

The statement stressed that the State of Israel is "a strong democracy and as a result the citizens of Israel maintain a lively discourse on issues that are contentious within Israeli society and that are signs of the strength of Israeli democracy."

He pointed out that political differences lead to protest and can create temporary uncertainty, which are risks that are taken into account and hedged in the economic assessments of the State of Israel.

A plan for judicial legislation pushed by the far-right government headed by Netanyahu sparked widespread controversy and led to large-scale demonstrations during the past months, before Netanyahu succumbed to popular pressure in late March and froze the legislation to give an opportunity for negotiations with the opposition.

"There will be no harm to Israeli democracy and the Israeli economy, and we will continue to lead a responsible economic, security and social policy and do everything for a stable, growing and prosperous Israeli economy," the statement said.

Moody's decision sparked criticism in Israel, where the head of the opposition, Yair Lapid, said that the rating agency's announcement is evidence that "the coup of the regime threatens the livelihood of every Israeli citizen."

"Lies and attempts to blame others will not work. The facts are clear: the government under my leadership handed them a strong and prosperous economy, and under Netanyahu and Smotrich everything collapses," he added in a statement.

For his part, Yisrael Beitenu party chairman and former Finance Minister Avigdor Lieberman said in a statement that Moody's announcement is "an economic earthquake that will have an immediate impact and will affect all citizens of the country."