The international rating agency S&P has released an update to its assessment of the state of the Israeli economy for its clients.

The report addresses the ICC's decision to request arrest warrants for Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant.

According to S&P analysts, Israel's GDP is projected to grow by just 0.5% in 2024, indicating a significant decline in GDP per capita. Unlike previous crises, such as the Second Lebanon War or the coronavirus pandemic, a swift economic recovery is not anticipated.

S&P highlights that risks to Israel's credit profile remain high, both in the security sphere and due to deteriorating relations with allies, which could undermine investor confidence.

The report also acknowledges internal political tensions, including disagreements within the government.