His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, may God protect him, affirmed that Moody’s granting the UAE government an Aa2 rating in creditworthiness is evidence of rational financial policies and strong international relations.
His Highness said in a tweet on his official account on the Twitter site: “The international rating agency“ Moody’s ”gives the UAE government an Aa2 rating in creditworthiness, the highest sovereign rating in the region with a stable outlook for the national economy. “A credit strength stemming from internal stability .. rational financial policies .. strong international relations .. and solid economic diversity .. an achievement that we will add to 2020 before its end.”
The success of the vision and policies of the state
The UAE government received an “Aa2” rating in creditworthiness, which is the strongest sovereign rating in the region with a stable outlook for the national economy by the international rating agency Moody’s, in a new step that reflects the success of the country’s financial and economic vision and policies, and the strength and stability of its economic, financial and credit sectors.
Overcoming challenges
His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, affirmed that this new classification reflects the strength and flexibility of the country’s economy and its ability to overcome various challenges, especially in light of the exceptional circumstances that the world is witnessing from the repercussions of the spread of the Covid 19 pandemic. His Highness indicated that this classification He demonstrated the strength of the solid foundations upon which the state’s public finances are based, stressing the success and effectiveness of the proactive policies and measures taken by the federal government to deal with the effects of the pandemic to continue achieving economic targets and advancing comprehensive and sustainable development, so that the UAE would thus present a role model internationally.
His Highness appreciated the efforts of the various work teams in the federal government, praising their fruitful work to build, develop and anticipate the future of vital sectors and develop them in accordance with the vision of the wise leadership in order to reach the country to the ranks of developed countries and place it on the international competitiveness map, noting in this regard that the state continues to occupy advanced positions in various Global Competitiveness Indicators.
In its report on the sovereign credit profile of the UAE, the agency indicated that credit strengths are linked to credit strength and high per capita GDP, as well as the country’s enjoyment of internal stability and strong and broad international relations. The agency also noted that the UAE had demonstrated effective and robust institutional practices by leading reforms and diversifying its revenue base.
As for the outlook for the national economy, the agency stated that it was supported by stable expectations for the sovereign rating as well as the potential for an upward trend in the medium term in line with the continuous diversification efforts, in addition to its commitment to the emergency commitments associated with the government.
It should be noted that the international credit agency “Fitch” had recently determined the sovereign rating of the UAE at (AA), with a stable outlook. This rating comes within 18 indicators that reflect the creditworthiness of federal government institutions and their ability to formulate the necessary policies to continue sustainable growth.
Follow the UAE news from the statement via Google News
Print
Email
Facebook
Twitter
LinkedIn
Pin Interest
Whats App
These were the details of the news Mohammed bin Rashid: Moody’s gives the UAE the highest sovereign rating... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
