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Satyendra Pathak
Doha
Global rating agencies S&P Global Ratings and Moody’s Investors Service have affirmed their stable outlook on Qatar in their latest reports.
In a report released on Wednesday, S&P reaffirmed it’s stable outlook on Qatar as the country has succeeded in effectively mitigating the economic and financial fallout of the boycott imposed on the country in June 2017 by Saudi Arabia, the UAE, Bahrain and Egypt.
“Qatar will continue to pursue prudent macroeconomic policies that support large recurrent fiscal and external surpluses over 2018-2021,” it said.
“We could consider raising the ratings if Qatar’s political institutions were to develop to levels similar to those of its non-regional peers, alongside a marked increase in transparency, providing greater clarity on the Qatari government’s external assets,” S&P said in the report.
Echoing the same, Moody’s Investors Service also announced that economic outlook for GCC members including Qatar for 2019 is seen “stable overall”.
“The stable outlook reflects our forecasts for fundamental credit conditions that will drive sovereign credit over the next 12 to 18 months,” it said.
“Stronger oil prices during most of 2018 reduced fiscal and external pressures for GCC countries in the short term,” the report released on Wednesday showed.
Commenting on the bigger economic picture, S&P Global Ratings said in the report that it expects economic growth in MENA to remain broadly stable in 2019. “We forecast 2.8 percent on average in 2019 (weighted by nominal GDP) compared with 2.6 percent,” it said.
In terms of GDP growth in 2019, Moody’s projected that most GCC members will see no change in that area.
Doha
Global rating agencies S&P Global Ratings and Moody’s Investors Service have affirmed their stable outlook on Qatar in their latest reports.
In a report released on Wednesday, S&P reaffirmed it’s stable outlook on Qatar as the country has succeeded in effectively mitigating the economic and financial fallout of the boycott imposed on the country in June 2017 by Saudi Arabia, the UAE, Bahrain and Egypt.
“Qatar will continue to pursue prudent macroeconomic policies that support large recurrent fiscal and external surpluses over 2018-2021,” it said.
“We could consider raising the ratings if Qatar’s political institutions were to develop to levels similar to those of its non-regional peers, alongside a marked increase in transparency, providing greater clarity on the Qatari government’s external assets,” S&P said in the report.
Echoing the same, Moody’s Investors Service also announced that economic outlook for GCC members including Qatar for 2019 is seen “stable overall”.
“The stable outlook reflects our forecasts for fundamental credit conditions that will drive sovereign credit over the next 12 to 18 months,” it said.
“Stronger oil prices during most of 2018 reduced fiscal and external pressures for GCC countries in the short term,” the report released on Wednesday showed.
Commenting on the bigger economic picture, S&P Global Ratings said in the report that it expects economic growth in MENA to remain broadly stable in 2019. “We forecast 2.8 percent on average in 2019 (weighted by nominal GDP) compared with 2.6 percent,” it said.
In terms of GDP growth in 2019, Moody’s projected that most GCC members will see no change in that area.
