Moody's: Abu Dhabi's Dh50bn stimulus to be met by rise in oil revenues - The National

Moody's: Abu Dhabi's Dh50bn stimulus to be met by rise in oil revenues - The National:

"Abu Dhabi’s plan to invest Dh50 billion ($13.6bn) over three years to stimulate the economy is expected to be covered by an increase in hydrocarbon revenues as rebounding oil prices give the emirate more room to spend. The economic stimulus package will amount to 5 per cent increase in government spending, which can be bridged by petro-dollars if oil prices remain above $60 per barrel during the implementation of the plan, Moody’s Investor Service said in report released on Monday. The measures are not expected to accumulate any additional debt or asset drawdown, it said. “We anticipate the impact of the stimulus package on the government's fiscal strength will be modest,” the rating agency said."



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