UAE NEWS: The UAE government rated ‘AA’ with a stable view Fitch ratings

Sheikh Mohammed praises Twitter’s excellent credit rating agency.

Fitch Ratings Inc, a US debt rating agency, has measured the UAE coalition government in the AA with a stable view.

This initiative demonstrates the creditworthiness of the federal organs of state and their strong resilience in designing the programs needed for sustainable growth while maintaining the highest levels of debt management performance supported by a large group of energy factors.

The UAE’s strong rating scale at this crucial time underscores the government’s ability to overcome economic challenges and develop policies to create economic, financial and financial implications that have enabled it to address the current Covid-19 crisis.

Fitch’s rating is based on 18 indicators that measure economic, financial, banking and financial sectors in addition to the balance of payments and international trade.

His Excellency Sheikh Mohammed Bin Rashid Al Maktoum, Deputy President and Prime Minister of the UAE and Governor of Dubai, welcomed the news on Twitter.

“According to Fitch Ratings, the UAE Federal government has achieved a ‘AA’ rating – in a sustainable position, becoming one of the most influential in the region. Our sound financial and financial policies are essential to the country’s financial stability. Sheikh Mohammed.

Fitch Ratings Inc, a US debt rating agency, has evaluated the UAE coalition government in AA with Stable Outlook.

This initiative demonstrates the creditworthiness of the federal organs of state and their strong resilience in designing the programs needed for sustainable growth while maintaining the highest levels of debt management performance supported by a large group of energy factors.

The UAE’s strong rating scale at this crucial time underscores the government’s ability to overcome economic challenges and develop policies to create economic, financial and financial implications that have enabled it to address the current Covid-19 crisis.

Fitch’s rating is based on 18 indicators that measure economic, financial, banking and financial sectors in addition to the balance of payments and international trade.

Commenting on the debt crisis, Highness Sheikh Hamdan bin Rashid Al Maktoum, Dubai’s Deputy Governor and Finance Minister, confirmed that many factors have been behind the UAE’s strong debt balance, which comes with “effective economic, financial and credit sector strategies and policies. and the conduct of public institutions ”

“These groups also meet the needs of citizens and residents, and improve their quality of life, taking into account the state budget deficit, government spending and keeping public debt levels at a very low level.”

Sheikh Hamdan pointed out that the UAE is one of the first countries in the region to diversify its economy and prepare for the post-oil crisis, relying on its great financial strength, abundant oil reserves and high-quality infrastructure.

“The UAE government has consolidated the foundations of a sustainable economy, underpinned by its strong external ties with a broad network of global partners, which has made the UAE a global financial and business hub, and an attractive destination for international institutions and companies,” he said.

Credit reports released by major international organizations since the beginning of this year have shown the strength of the UAE economy despite the many challenges facing the global economy.

The data estimates that the total value of the combined financial assets in the UAE stands at US $ 1.3 trillion (Dh4.76 trillion), while the country has plenty of oil and electricity.

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