אֲשֶׁ֧ר בֵּרֲכ֛וֹ יְהוָ֥ה צְבָא֖וֹת לֵאמֹ֑ר בָּר֨וּךְ עַמִּ֜י מִצְרַ֗יִם וּמַעֲשֵׂ֤ה יָדַי֙ אַשּׁ֔וּר וְנַחֲלָתִ֖י יִשְׂרָאֵֽל׃ (ס)
na pinagpala ng Walang-Hanggan ng mga Hukbo, na nagsasabi: “Pinagpala ang Aking bayan, ang Egipto, at ang gawa ng Aking mga kamay, ang Asiria, at ang Aking mana, ang Israel.”
Ibn Ezra
Whom the Lord of hosts hath blessed. For the Lord has blessed Israel, therefore he will be a blessing, etc; or He has blessed each of the three.32The question is here, to which word does the pronoun in בֵּרְכוֹ he blessed him refer. The one explanation refers it to Israel; because God has blessed Israel, therefore he can again be a source of blessing to other nations. The second explanation refers it to Israel, Egypt, and Assyria, and explains the singular of the pronoun in the usual way, each of them.
Rashi
Blessed is My people Israel, whom I chose for Myself as a people when they were in Egypt.
Rashi
and the work of My hands I showed them with the mighty deeds I performed wondrously against Assyria, and through those miracles they will repent and be as though I just made them anew, and they will be My heritage, Israel. Jonathan paraphrased this in a similar manner.