Israeli Leaders Rebuff Moody’s Warning of Economic Slump Due to Judicial Overhaul

An aerial view shows protesters as they take part in a demonstration against Israeli prime minister Benjamin Netanyahu and his nationalist coalition government's judicial overhaul, in Tel Aviv, Israel, on July 8, 2023. Oren Alon/Reuters

The Israeli government issued a response to Moody’s Special Report on Israel, following the passage of the governing coalition’s bill on the nation’s judicial overhaul.

Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich issued a joint press statement immediately in response to Moody’s July 25 report.

The government bill will give legislators the right to select and confirm judges and limit the right of Israel’s Supreme Court to strike down any passed legislation.