Latest news with #fiscalresilience
Zawya
30-07-2025
- Business
- Zawya
Kuwait's Ministry of Finance charts course for fiscal innovation and sustainable growth
Kuwait City: The Ministry of Finance's efforts to advance fiscal resilience, financial sector development and investor engagement under Kuwait Vision 2035 were the focus of a recent high-level meeting between Noora Al Fassam, Minister of Finance and Minister of State for Economic Affairs and Investment, and senior representatives from Oxford Business Group (OBG), including Andrew Jeffreys, the Group's Chief Executive Officer, and Cristina Mirica, Country Director for Kuwait. The meeting provided an opportunity to discuss the Ministry's evolving mandate, with particular attention given to the implementation of the new Public Debt Law. The legislation establishes a KD 30 billion ceiling on sovereign borrowing across local and international markets, enhancing the capacity of the Central Bank of Kuwait and the Kuwait Investment Authority to manage debt sustainably. Discussions also highlighted the Ministry's progress in modernising Kuwait's mortgage framework to stimulate private sector lending and expand access to housing finance. Broader reforms in public financial management and fiscal governance were addressed as part of the Ministry's commitment to building a resilient and transparent economic environment. The Minister also underlined the importance of clear communication with stakeholders as reforms progress. 'By implementing robust public debt legislation and modernising the mortgage regime, we are taking decisive steps to strengthen fiscal resilience and support sustainable growth,' she said. 'It is essential that we convey these developments transparently to global investors and partners.' Andrew Jeffreys, CEO of Oxford Business Group, welcomed the dialogue and the opportunity to support the Ministry's objectives. 'Our discussion with Her Excellency and her team provided valuable insight into Kuwait's fiscal reform agenda,' he said. 'We look forward to exploring ways to help articulate the Ministry's progress and vision to the international business community.' The engagement forms part of OBG's research for The Report: Kuwait 2025, which will include in-depth analysis of Kuwait's economic trajectory, covering fiscal governance, debt management frameworks, financial sector innovation and public-private partnerships. About Oxford Business Group Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world's fastest-growing markets, termed The Yellow Slice, in reference to OBG's corporate colour. Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions. OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv's (previously Thomson Reuters) Eikon subscribers, and more. For more information, please contact: Marc-André de Blois Director of PR and Video Content, Oxford Business Group E-mail: mdeblois@ 802 Publishing Pavilion, Production City PO Box 502 659 Me'aisem First Dubai UAE 6th Floor 105 Victoria Street London SW1E 6DT Register to receive our Economic Updates:
Malay Mail
23-07-2025
- Business
- Malay Mail
Madani govt ‘listening to the people', says Fahmi after Anwar's RM100 aid, fuel price cut
KUALA LUMPUR, July 23 —The announcement of the Special Appreciation of Malaysians by Prime Minister Datuk Seri Anwar Ibrahim today clearly demonstrates the MADANI Government's sensitivity to the pulse of the people and its commitment to ease their burden with various forms of assistance. Communications Minister Datuk Fahmi Fadzil said the announced approach would also further boost economic growth, provide relief to the people, as well as strengthen the country's fiscal resilience in the face of global uncertainties. 'At the same time, the MADANI Government will continue to strive to balance the need to improve the country's financial position with the responsibility to safeguard the well-being of the people. 'Highest appreciation and thanks to the Prime Minister for the announcement of the MADANI Government's measures that provide relief to the people, as well as drive the country's economic stability,' he said in a post uploaded on social media. Fahmi said the measures taken and announced were the result of careful consideration based on the principles of social justice and economic sustainability. Fahmi who is also the chairman of the Main Committee for the National Day and Malaysia Day celebrations (HKHM), also called on all Malaysians to raise the spirit of love for the country. 'This is the time for us to unite our hearts and souls, appreciate the blessings of independence and together contribute to the prosperity of the country,' he said. He stressed that the government would continue to strengthen the development agenda through the 13th Malaysia Plan (MP13) and the MADANI Malaysia Budget which is currently being worked for the benefit of the people. The Prime Minister today announced several important initiatives as a sign of the MADANI Government's appreciation to all the people, including a one-off RM100 gift to every adult citizen aged 18 and above under the Sumbangan Asas Rahmah (SARA) programme, a postponement of the increase in toll rates for 10 highways and a lower RON95 subsidised price of RM1.99 per litre. Anwar also said that several other measures and new initiatives would be introduced in the 2026 Budget which is scheduled to be tabled this October. The announcement of the Special Appreciation by the Prime Minister for Malaysians was broadcast live this morning on all major television channels and social media platforms. — Bernama
Arabian Business
25-06-2025
- Business
- Arabian Business
UAE earns top sovereign credit ratings from Moody's, S&P, and Fitch in 2025
The UAE has secured strong sovereign credit ratings from the world's top three agencies – S&P Global (S&P), Moody's Investors Service (Moody's), and Fitch Ratings (Fitch) – reinforcing international confidence in its economy and fiscal resilience. On June 17, S&P assigned the UAE a sovereign credit rating of 'AA' with a stable outlook. Moody's affirmed its 'Aa2' rating, also with a stable outlook, in its 2025 annual review. Fitch followed on June 24 with an 'AA-' rating, maintaining the stable outlook. These consistent evaluations from all three major global credit agencies reflect the UAE's strong fiscal position, economic diversification efforts, and disciplined financial governance. UAE credit ratings The country now joins a small group of nations worldwide with favourable sovereign credit ratings from all three agencies. 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.' Sheikh Mohammed said 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 individual reports from each agency highlight key strengths: S&P: Cited the UAE's robust financial position and the strength of consolidated sovereign assets. It also noted that regional geopolitical tensions are likely to have limited impact due to the country's internal stability and sovereign wealth. Moody's: Emphasised continued progress in non-oil revenue development and the UAE's attractiveness to foreign investors and talent, underpinned by sound policy frameworks. Fitch: Recognised elevated regional risks but affirmed the UAE's capacity to absorb shocks, supported by strong fiscal and external reserves. The ratings confirm the United Arab Emirates' ability to diversify revenue streams beyond hydrocarbons, maintain fiscal discipline, and manage risks effectively. These achievements have contributed to macroeconomic stability and sustainable growth across key sectors such as finance, trade, infrastructure, and innovation.
