JERUSALEM, Jan. 20 (Xinhua) -- Israel's public debt-to-GDP ratio decreased to 60 percent in 2019, comparing to 61 percent in 2018, Israeli Ministry of Finance said on Monday.
The annual figures published by the ministry's accountant general Rony Hizkiyahu showed that the government's debt rate decreased to 58.5 percent of GDP in 2019.
This is the third consecutive year that this figure is lower than the upper limit of 60 percent, recommended by the Maastricht Treaty.
According to the ministry, the decline in debt-to-GDP ratio in 2019 was due to macroeconomic factors reflected in high nominal growth rates, as well as market factors, mainly a significant appreciation of the Israeli new shekel against the U.S. dollar and the euro, and a low inflation rate in Israel.
"The decline of public and government debt from GDP is directly related to the rate of growth in the economy and the market conditions," Hizkiyahu said.
"It shows the financial strength of the Israeli economy, as reflected in investors' confidence in the state's global debt offerings, and in the eyes of the rating companies," Hizkiyahu added.
