Gargash: Fitch rating shows UAE economy’s strength during regional crisis

Abu Dhabi: Dr Anwar Gargash, diplomatic adviser to the UAE President, has welcomed the country's strong sovereign credit rating from Fitch Ratings, saying it underscores the resilience of the national economy and the strength of its financial position despite the ongoing regional crisis.

In a post on X, Gargash highlighted the UAE's robust public finances, substantial sovereign assets and economic stability following Fitch's affirmation of the country's AA- credit rating with a stable outlook. 

He noted that the assessment carried particular significance given the regional crisis, reinforcing international confidence in the UAE economy and demonstrating the success of its long-term fiscal and economic policies.

Gargash stressed that the country is becoming stronger in the face of challenges, more confident in its future and steadfast in its pursuit of prosperity.

Fitch's assessment cited the UAE's low consolidated government debt, substantial net external assets and high GDP per capita among the principal factors supporting its sovereign rating.

The agency also highlighted the country's considerable fiscal and external financial buffers, which help it withstand the economic consequences of regional instability.