Moody's confirms UAE’s Aa2 rating

International credit rating agency Moody’s has affirmed the Aa2 long-term sovereign credit rating of the UAE.

The agency has reported that the UAE debt level is likely to remain very low supported by balanced budget and economic diversity policy.

The UAE's local and foreign currency country ceiling rating remained unchanged at the Aaa level, which is explained by the significant foreign currency reserves of the Central Bank.

According to Moody's forecasts, the real GDP of the UAE will grow by 4% in 2023, and the non—oil sector of the country's economy - by 6%. 

(Аrgaam, March 22, 2023)