Fitch Ratings affirmed that the strength of Abu Dhabi's sovereign external assets reinforces its financial strength and strengthens the ability of the emirate, which has one of the strongest sovereign ratings in the region, to contain any Financial deficits for decades.
In a recent report, the agency said that the main strength of credit in Abu Dhabi lies in the exceptional strength of its financial and external measures, noting that the ratio of net sovereign foreign assets to GDP The total of the emirate during the year 2020 is more than 250%, indicating that this contribution is the highest among the countries classified in the AA category.
During the agency’s global sovereign ratings conference 2020, which was held by the agency yesterday via video communication technology, the agency’s analysts pointed out the low ratio of external government debt and quasi-governmental entities to GDP The total for the Emirate of Abu Dhabi.
Analysts at the agency affirmed that Abu Dhabi enjoys sufficient diversity and flexibility to meet its financial needs and absorb oil price declines and pressures.
and the agency expected an improvement in the pace of the global economic recovery by the end of this year, after the severe recession that it witnessed during the months of March and April, noting that it made a slight upward adjustment to its expectations Precedent to global GDP for the current year.
Fitch said that she expects global GDP to decline 4.4% in 2020, compared with its previous forecast in June of a 4.6% decline, indicating that the recovery is progressing Faster than expected, but she expects to moderate soon.
(Amazon Fun Knowledge)
