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Fitch cuts Qatar credit rating
29/08/2017
The rating agency Fitch Ratings lowered Qatar's rating from AA to AA with a negative outlook due to the crisis with some countries and cut off diplomatic relations with Doha.
In a research note, Fitch said Qatar's diplomatic and logistical isolation would not be resolved until some time passed, although international mediation efforts were continuing, but they were not making much progress.
According to Fitch, the full financial and economic impact of the boycott is uncertain, and could be greater than currently expected.
Qatar's GDP growth is expected to slow from 2.2% in 2016 to 2% in 2017 and 1.3% in 2018-2019.
Qatar's net sovereign foreign assets have fallen to 146% of GDP this year from 185% in 2016. "sovereigns, including the Qatar Investment Authority, continue to transfer some of their deposits to Doha banks," the agency said.
According to them, the fiscal deficit in the Qatari government budget may fall to 3.2% of GDP in 2017, from 4.9% in 2016, especially as oil prices rise and public expenditure is controlled.
The agency "Moody 's " international credit rating began a series of cuts, lowered the credit rating of Qatar ( AA2 ) to ( AA3 ).
Standard & Poor's also rated Qatar at AA level .
This came after the Gulf-Qatar crisis, which broke out on June 5 after the boycott of Saudi Arabia, the UAE, Bahrain and Egypt, relations with Qatar, on the pretext of "support for terrorism."
For its part, the International Monetary Fund predicted in its latest report that growth in Qatar will slow to 2.8% in 2018, and kept its forecast for 2017 real GDP growth at 3.4%.
http://aletejahtv.org/permalink/178992.html
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