Strong fiscal position supports Sharjah’s credit strength | GulfNews.com:
"The credit strength of Sharjah is primarily supported by its very strong fiscal and government debt position, Moody’s Investors Services said in a report on Thursday.
Sharjah’s A3 rating is primarily supported by the emirate’s very strong fiscal and government debt position, characterised by small fiscal deficits, low levels of government debt and manageable wider public-sector debt.
According to the rating agency Sharjah’s credit strength is also supported by the relatively higher degree of economic diversification — compared to the rest of the UAE (UAE, Aa2 stable) and countries in the Gulf Cooperation Council (GCC).
The emirate’s government finances benefit significantly from membership in the federation of the UAE, because the federal Ministry of Finance funds a large portion of public services for UAE nationals directly from its own budget, including defence and a basic level of education and health care. Sharjah’s competitive manufacturing sector and its relatively higher degree of economic diversification compared to other emirates in the Gulf Cooperation Council (GCC) also provides credit strength."
'via Blog this'
No comments:
Post a Comment