Massive military spending and a drop in revenues. Israel is borrowing heavily to fund its war on Gaza.
And it is now on track to run one of its widest budget deficits this century.
Worried about the fiscal and political risks, Moody’s has lowered Israel’s credit rating for the first time. The agency has also forecast a negative outlook for the economy.
Israel’s finance minister has slammed the decision as a “political manifesto”. But is it?
Commercial real estate in the United States is faltering, and banks as far away as Germany are feeling the pain.
Plus, the four-day workweek.
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