The long-term foreign-currency issuer default rating (IDR) with a stable outlook mainly benefits from the UAE capital’s substantial sovereign net foreign assets, which were estimated to be 157% of the country’s gross domestic product (GDP) last year.
“The UAE’s economy is set to maintain its strong growth momentum, driven by rising oil output and robust activity in the non-oil sector, which is being supported by a loose fiscal stance” James Swanston, MENA economist at Capital Economics.
In this video, Zawya’s Farah Heiba dives deep into the financial world of clean energy, unpacking the challenges banks face when it comes to green investments.
