Britain's shock referendum vote in favor of leaving the European Union will not directly affect Israel, JPost quoted Israeli Prime Minister Benjamin Netanyahu as saying Sunday at the weekly cabinet meeting.

"There is no direct effect on Israel, apart from the fact that we are part of the global economy," the premier said ahead of a slated trip to Rome where he will meet with US Secretary of State John Kerry and Italian Prime Minister Matteo Renzi. 

Netanyahu added that he has been in contact with officials from the Finance Ministry and Bank of Israel to discuss the possible implications of the so-called 'Brexit' vote on the Israeli economy. 

"I can say one thing - Israel's economy is strong," Netanyahu stressed. "It is a strong economy with large-scale foreign exchange reserves, so in case there is any impact, it is not expected to be strong, apart from shaking up the global economy."

Source: MENA