(Israel Hayom via JNS) A recent report by global credit-rating agency Moody’s lauded the Israeli government’s fiscal policy but criticized its inability to pass a state budget.

The 31-page report said that while the agency expects that “the domestic political environment will continue to be highly polarized,” Moody’s has decided to reaffirm Israel’s A1 sovereign rating, which has been unchanged since 2008.

The agency named Israel’s overall economic stability, its robust high-tech sector and the forecast of a rapid economic recovery from the coronavirus-triggered recession in 2021, as well as the country’s economic resilience vis-à-vis external crises, as the reasons for its decision.

However, Moody’s said that it has downgraded Israel’s score for “institutions and governance strength,” citing the prolonged political crisis.