Arab Today, arab today abu dhabi’s asset position provides buffer for oil price volatility
Last Updated : GMT 06:58:51
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Abu Dhabi’s asset position provides buffer for oil price volatility

Arab Today, arab today

Arab Today, arab today Abu Dhabi’s asset position provides buffer for oil price volatility

Standard and Poor's Ratings Services
Abu Dhabi - WAM

Standard and Poor's Ratings Services said Abu Dhabi's exceptional strength of its net asset positions provides a buffer to counter the negative impact of oil price volatility on economic growth and revenues.
The S&P affirmed its ‘AA' long-term and ‘A-1+' short-term foreign and local currency sovereign credit rating, and also affirmed its stable outlook.
The S&P estimates the GDP per capita of Abu Dhabi, one of the world's wealthiest economies, at US$102,000 (Dh374,340) in 2014.
Economic growth is supported by rising oil production, high public spending, and a broadening of the economy's production base, including services and manufacturing, the ratings agency said.

 

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