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International credit rating company Fitch left Israel's sovereign debt rating unchanged at A with a stable outlook, but warned that the country needs to reduce its debt load.

Finance Minister Yuval Steinitz received the company's decision warmly, declaring it a "certificate of honor for Israel, which has shown the strength of its economy and the success of the government's economic policy."

However, the Finance Ministry has been disappointed that the international rating companies aren't raising the country's rating given the Israeli economy's strength in the face of the global financial crisis.

Meanwhile, Steinitz and Foreign Minister Avigdor Lieberman met with OECD head Angel Gurria in Paris over the weekend, where they discussed Israel's growth forecasts.

The OECD is predicting that Israel's economy will expand by 4.5% this year.