Latest news with #fiscalpolicies
Zawya
11 hours ago
- Business
- Zawya
UAE among elite global economies with strong & stable sovereign ratings from the top three international credit rating agencies
The UAE is among the few countries worldwide with strong credit ratings from all three major international rating agencies Maktoum bin Mohammed: Confirmation of the strong sovereign rating reflects the strength of the UAE economy and the sustainability of its fiscal policies The UAE's strong ratings are the result of an integrated economic vision and effective government action Economic diversification and fiscal discipline reinforce international institutional confidence in the country Abu Dhabi - United Arab Emirates: The United Arab Emirates (UAE) Ministry of Finance announced that the world's top three credit rating agencies – Fitch Ratings (Fitch), S&P Global (S&P), and Moody's Investors Service (Moody's) – have assigned sovereign credit rating for the United Arab Emirates. This step reflects the continued international confidence in the strength of the UAE economy and the sustainability of its fiscal policies. S&P announced, on 17 June 2025, that it assigned the UAE's sovereign rating at 'AA' with a stable outlook. Moody's, in its annual review for 2025, affirmed the rating at 'Aa2' with a stable outlook. Fitch also affirmed the UAE's rating at 'AA-' with a stable outlook on 24 June 2025. This consensus by all three major global credit rating agencies highlights the UAE's advanced fiscal standing and strengthens its position among the few countries globally with strong sovereign credit ratings from all three top agencies. Integrated Government Performance On this occasion, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, said: 'The affirmation of the UAE's strong sovereign rating by the world's top three international credit rating agencies, and their consensus on a stable outlook, reflects the deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies. This is the result of a comprehensive economic vision led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE (may God protect him), and closely followed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai (may God preserve him).' His Highness affirmed that the UAE continues to implement economic policies grounded in diversification, transparency, and fiscal discipline, with a strong focus on increasing non-oil revenues and achieving financial sustainability. This reflects the integrated performance of government entities and long-term strategic planning, which continue to reinforce the UAE's position as a flexible and credible global economic hub. He added: 'At the Ministry of Finance, we remain committed to working closely with all government entities to enhance the efficiency of resource management, develop productive sectors, and improve the country's investment appeal. The development of the sovereign yield curve for the dirham was a major milestone in enhancing market transparency, providing investors with a reliable benchmark for pricing dirham-denominated debt instruments. This strengthens the UAE's presence on the global economic map and reinforces its ability to confidently navigate regional and international changes and challenges — by expanding the investor base and enhancing the country's reputation as a reliable and attractive destination in global capital markets.' Sustainable Growth The ratings confirm the UAE's ability to diversify and boost non-oil revenues, maintain sound fiscal discipline, manage risks effectively, and uphold prudent fiscal policies. All of these factors have contributed positively to economic stability and sustained growth across various sectors. S&P's report reflects the agency's assessment of the UAE's strong financial position, in addition to the strength of the government's consolidated sovereign assets. The agency expects that regional geopolitical tensions will, overall, have a limited impact on the UAE, given the country's large sovereign wealth and track record of internal stability. Moody's report highlights the UAE government's continued efforts to expand and diversify non-oil revenue sources, support the development of non-oil sectors, and enhance the country's appeal to foreign investors and skilled talent. Despite persistent geopolitical tensions in the region, the UAE's effective policy frameworks help mitigate these challenges through advancing economic diversification. Fitch's report noted the elevated geopolitical risks in the region, while affirming the UAE's strong ability to withstand short-term disruptions, supported by its substantial fiscal and external buffers. This achievement is yet another testament to the UAE's continued success in striking a balance between fiscal stability and economic growth. It further reinforces international investor confidence and affirms the UAE's status as a secure and stable destination for business and investment.
Gulf Business
12 hours ago
- Business
- Gulf Business
UAE secures top sovereign credit ratings from major agencies
The UAE has received strong sovereign credit ratings from Fitch Ratings, S&P Global, and Moody's Investors Service, reflecting international confidence in its economic strength and fiscal policies, according to the state news agency WAM. S&P Global assigned the UAE a sovereign rating of 'AA' with a stable outlook on June 17. Moody's, in its annual review for 2025, affirmed the rating at 'Aa2' with a stable outlook. This consensus from all three major global credit rating agencies underscores the UAE's robust fiscal standing, positioning it among a select group of countries globally with strong sovereign credit ratings across the board. According to the report, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stated that the ratings affirm 'deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies.' He attributed this to a comprehensive economic vision led by UAE President Sheikh Mohamed bin Zayed Al Nahyan and supported by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai. Sheikh Maktoum reaffirmed the UAE's commitment to implementing economic policies focused on diversification, transparency, and fiscal discipline, with an emphasis on increasing non-oil revenues and achieving financial sustainability. He noted that this reflects the integrated performance of government entities and long-term strategic planning, reinforcing the UAE's position as a flexible and credible global economic hub. He added that the Ministry of Finance remains committed to collaborating with government entities to enhance resource management efficiency, develop productive sectors, and improve the country's investment appeal. The development of the sovereign yield curve for the UAE dirham was highlighted as a significant milestone, enhancing market transparency and providing a reliable benchmark for pricing dirham-denominated debt instruments. This, he stated, strengthens the UAE's global economic presence and its ability to navigate regional and international challenges by expanding the investor base and enhancing its reputation as a reliable and attractive destination in global capital markets. Ratings confirm UAE's ability to diversify and drive non-oil sectors The ratings confirm the UAE's capacity to diversify and boost non-oil revenues, maintain sound fiscal discipline, manage risks effectively, and uphold prudent fiscal policies. These factors have positively contributed to economic stability and sustained growth across various sectors. S&P's report specifically cited the UAE's strong financial position and the strength of the government's consolidated sovereign assets. The agency anticipates that regional geopolitical tensions will have a limited overall impact on the UAE, citing the country's substantial sovereign wealth and consistent internal stability. Moody's report underscored the UAE government's ongoing efforts to expand and diversify non-oil revenue sources, support the development of non-oil sectors, and enhance the country's attractiveness to foreign investors and skilled talent. Despite persistent regional geopolitical tensions, the report noted that the UAE's effective policy frameworks help mitigate these challenges through ongoing economic diversification. Fitch's report, while acknowledging elevated geopolitical risks in the region, affirmed the This achievement serves as further evidence of the UAE's continued success in balancing fiscal stability with economic growth, reinforcing international investor confidence and affirming the UAE's status as a secure and stable destination for business and investment.
Zawya
15 hours ago
- Business
- Zawya
UAE among elite global economies with strong & stable sovereign ratings
ABU DHABI: The United Arab Emirates (UAE) Ministry of Finance announced that the world's top three credit rating agencies – Fitch Ratings (Fitch), S&P Global (S&P), and Moody's Investors Service (Moody's) – have assigned sovereign credit rating for the United Arab Emirates. This step reflects the continued international confidence in the strength of the UAE economy and the sustainability of its fiscal policies. S&P announced, on 17 June 2025, that it assigned the UAE's sovereign rating at 'AA' with a stable outlook. Moody's, in its annual review for 2025, affirmed the rating at 'Aa2' with a stable outlook. Fitch also affirmed the UAE's rating at 'AA-' with a stable outlook on 24 June 2025. This consensus by all three major global credit rating agencies highlights the UAE's advanced fiscal standing and strengthens its position among the few countries globally with strong sovereign credit ratings from all three top agencies. On this occasion, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, said: 'The affirmation of the UAE's strong sovereign rating by the world's top three international credit rating agencies, and their consensus on a stable outlook, reflects the deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies. This is the result of a comprehensive economic vision led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and closely followed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.' H.H. affirmed that the UAE continues to implement economic policies grounded in diversification, transparency, and fiscal discipline, with a strong focus on increasing non-oil revenues and achieving financial sustainability. This reflects the integrated performance of government entities and long-term strategic planning, which continue to reinforce the UAE's position as a flexible and credible global economic hub. He added: 'At the Ministry of Finance, we remain committed to working closely with all government entities to enhance the efficiency of resource management, develop productive sectors, and improve the country's investment appeal. The development of the sovereign yield curve for the dirham was a major milestone in enhancing market transparency, providing investors with a reliable benchmark for pricing dirham-denominated debt instruments. This strengthens the UAE's presence on the global economic map and reinforces its ability to confidently navigate regional and international changes and challenges — by expanding the investor base and enhancing the country's reputation as a reliable and attractive destination in global capital markets.' The ratings confirm the UAE's ability to diversify and boost non-oil revenues, maintain sound fiscal discipline, manage risks effectively, and uphold prudent fiscal policies. All of these factors have contributed positively to economic stability and sustained growth across various sectors. S&P's report reflects the agency's assessment of the UAE's strong financial position, in addition to the strength of the government's consolidated sovereign assets. The agency expects that regional geopolitical tensions will, overall, have a limited impact on the UAE, given the country's large sovereign wealth and track record of internal stability. Moody's report highlights the UAE government's continued efforts to expand and diversify non-oil revenue sources, support the development of non-oil sectors, and enhance the country's appeal to foreign investors and skilled talent. Despite persistent geopolitical tensions in the region, the UAE's effective policy frameworks help mitigate these challenges through advancing economic diversification. Fitch's report noted the elevated geopolitical risks in the region, while affirming the UAE's strong ability to withstand short-term disruptions, supported by its substantial fiscal and external buffers. This achievement is yet another testament to the UAE's continued success in striking a balance between fiscal stability and economic growth. It further reinforces international investor confidence and affirms the UAE's status as a secure and stable destination for business and investment.
