The credit rating agency, “Standard & Poor's”, raised the credit rating of the State of Qatar to "AA", due to the decline in debt burdens, with a stable outlook. The agency attributed its decision to the rise in oil and gas prices, the increase in revenues, and the decrease in the need to borrow.
Moody's also raised Qatar's credit rating from stable to positive, due to the rise in energy prices, which is expected to achieve a large budget surplus, which would help the country manage debt in the medium term.
According to “Moody's”, changing the outlook to positive reflects the possibility of continued improvement in the medium term in Qatar's debt situation, as happened in 2021-2022 thanks to the rise in energy prices, even if oil and natural gas prices decline during the next few years.
Qatar has benefited from the doubling of oil prices this year, as the year began with the price of a barrel of Brent crude revolving around $50, before recording about $98 a barrel. In some periods, the price of crude exceeded 120 dollars a barrel.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
