Much of the Moody's Investors Service report focuses on an Israeli government plan to overhaul court systems, which has sparked weeks of intensifying mass protests.
JERUSALEM, Israel – Israel’s finance minister on Sunday, April 16, said Moody’s decision to cut the outlook for Israel’s sovereign credit rating was “not a big drama” and reiterated his stance that the government’s plan to overhaul the judiciary would help the economy.
Much of its report focused on a government plan to overhaul Israel’s court systems, and in doing so give politicians greater sway over selecting judges and limit the power of the Supreme Court to strike down legislation. Representatives from Netanyahu’s coalition and opposition parties will begin talks on Monday, April 17, in the hopes of reaching a consensus, said the office of Israeli President Isaac Herzog, whose post is largely ceremonial. Herzog’s efforts to reach a compromise so far have come up short.
Smotrich said he did not “think economists are great experts on the judicial issue,” and that any damage to the economy would come from the “campaigns of lies” against the reforms.
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