Moody's upgrades Qatar banking sector outlook to 'stable'

Moody's upgrades Qatar banking sector outlook to 'stable':

Global credit rating agency Moody’s has upgraded Qatar’s banking sector outlook to “stable” from “negative”, reflecting the resilience of the country's economy and banking system to the ongoing economic and diplomatic blockade.

The rating agency also noted that the country's banking sector profitability will remain "stable" with capital buffers remaining "strong".

Highlighting that the banks' operating environment stand to benefit from higher economic growth, Moody's forecasts Qatar's real gross domestic product (GDP) to grow 2.7% in 2018 (against 1.6% a year ago), supported by high levels of public spending.