Global agencies underline Qatar’s attractive credit rating

Global agencies underline Qatar’s attractive credit rating

QLNews
By QLNews

With access to abundant resources and robust policies in place to manage it effectively for present and future generations, Qatar’s economy has always been strong and resilient. Multiple international agencies, over the years, have acknowledged the same.

Standard and Poor’s (S&P Global) and Moody’s have confirmed that Qatar’s credit rating stands at AA with a positive outlook, thanks to the country’s Gross Domestic Product (GDP), high GDP per capita, huge hydrocarbon reserves, high net asset value and efficient monetary and fiscal policies.

The observation was made during the international credit rating agencies conference in Doha, jointly organised by the Qatar Association of Certified Public Accountants (QCPA), the Global Compliance Institute (GCI), S&P Global and Moody’s, on Monday.

QCPA Board Deputy Chairman Abdullah Al Mansoori hailed Qatar’s exceptional economic performance in 2022, given the country’s successful hosting of the FIFA World Cup.

“The World Bank Group’s latest report has set an optimistic outlook for the Qatari economy, expecting about a 3.4 per cent growth. It estimated that the country’s economy achieved a four percent growth in 2022, compared to initial estimates that put the growth at 3.2 per cent,” he said.

“After the World Cup’s conclusion, Qatar’s 2023 budget was unveiled with no less than a QR29bn surplus, despite adopting a conservative price for a barrel of oil at $65 at a time when the price of a barrel exceeds $80. This was a result of the remarkable recovery in global energy prices. It confirmed the strength and durability of Qatari economy and its ability to withstand fluctuations and uncertainty in the global economy,” Al Mansorri said.

“The solidity of Qatar’s economy was confirmed by international rating agencies, with S&P Global elevating the 2022 credit rate from -AA to AA, and Moody’s rating upgraded from stable to positive. Fitch and Capital Intelligence agencies rated Qatar at AA, with a stable outlook. All these reflect the country’s strong creditworthiness,” he added.

Al Mansoori opined that the country’s strong ratings, based on several factors, would help increase Qatar’s attractiveness to foreign investors.

--

Make sure to check out our social media to keep track of the latest content. 

Instagram - @qatarliving

Twitter - @qatarliving

Facebook - Qatar Living

YouTube qatarlivingofficial

Log in or register to post comments

More from Qatar Living

Don’t miss these top (new) destinations to visit in Qatar after the World Cup

Don’t miss these top (new) destinations to visit in Qatar after the World Cup

While many places that opened exclusively for the world championship are now closed or closing, there is no shortage of new places for you to check out now that the World Cup is over. Apart from several new destinations, Qatar’s usual hangout spots have also amped up their offerings. Here’s a list of places definitely worth visiting again now that the World Cup is over.
Have you tried these hot chocolate spots in Qatar?

Have you tried these hot chocolate spots in Qatar?

We’ve listed out some favorite hot chocolate spots in Qatar along with some new suggestions for some truly unique ones.
Explore Qatar's new play areas for children

Explore Qatar's new play areas for children

From playgrounds to water parks and experiential learning zones, there is no shortage of new play areas for children in Qatar. Have an exciting to start to the New Year by taking your little ones to one of these play areas.
Qatar’s exciting line-up of events for 2023

Qatar’s exciting line-up of events for 2023

Carrying on the excitement of the World Cup from last year, Qatar has taken the initiative to host a series of local and global events for everyone. From a colorful balloon festival to a thrilling F1 Sprint race, here is a list of exciting events you can look forward to in 2023.
All you need to know about Qatar Balloon Festival 2023

All you need to know about Qatar Balloon Festival 2023

The third edition of the Qatar Balloon Festival returns this year with a variety of events and activities for everyone. Here’s all you need to know about the Qatar Balloon Festival 2023.
Top Qatar sporting events to see in January 2023

Top Qatar sporting events to see in January 2023

The QOC has released the schedule of sporting events including 81 events for the entire year of 2023. January looks promising with a line-up of eight such tournaments in Qatar.
 Cruise season gathers steam as Artania docks at Doha Port

Cruise season gathers steam as Artania docks at Doha Port

The 2022-23 cruise season is slowly gathering pace, with Artania — a luxury vessel with more than 1,000 passengers onboard — docking at the Doha Port on Saturday.
Doha cements its place as one of world’s top cities to live and work in

Doha cements its place as one of world’s top cities to live and work in

Qatar’s transformational journey was acknowledged yet again when Doha was chosen as the 27th best city in the world to live, work, visit and invest in.