24 Hrs
Source:
Sky News
Fitch keeps UAE rating stable
Fitch Agency has affirmed the UAE's sovereign rating at the "-AA" level with a stable outlook, confirming the strength of its economic and financial fundamentals. The rating stabilization reflects robust public finances, low government debt, strong reserves, and the economy's ability to absorb shocks, supported by a diversified income base, particularly in non-oil sectors. The report also indicated that Abu Dhabi's net external assets are expected to amount to approximately 164% of its GDP by 2025, making it one of the highest levels globally. This comes amid efforts by the UAE to strengthen its non-oil economy and support financial stability in the medium term.
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