{"id":86805,"date":"2023-11-22T00:00:00","date_gmt":"2023-11-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/s-outlook-stable\/"},"modified":"2023-11-22T00:00:00","modified_gmt":"2023-11-22T00:00:00","slug":"s-outlook-stable","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/","title":{"rendered":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable"},"content":{"rendered":"

S&P Global Ratings affirmed Sharjah\u2019s long- and short-term foreign- and <\/strong>local-currency sovereign credit rating at BBB\/A-3 with a stable outlook yesterday<\/strong>, the ratings agency said in a press release<\/a>. The emirate\u2019s transfer and convertibility assessment \u2014 S&P\u2019s view on the likelihood that a non-sovereign entity could face restricted access to FX, to ensure the sovereign has the ability to meet debt requirements \u2014 was also maintained at AA+. <\/p>\n

THE RATIONALE-<\/strong><\/p>\n

Fiscal performance looks set to improve:<\/strong> The rating is supported by S&P\u2019s \u201cview that Sharjah\u2019s government will introduce sufficient measures to begin stabilizing\u201d its debt-to-GDP ratio in the next two years, according to the press release. Sharjah\u2019s total debt-to-GDP ratio stands at an estimated 52.5%, S&P says, expecting that this figure will inch up to 54.0% in 2025 and 55.7% in 2026. Sharjah\u2019s rating could be revised upwards if its \u201cfiscal performance materially strengthened, putting net general government debt on a downward path.\u201d<\/p>\n

And economic growth is on the horizon:<\/strong> \u201cWe also expect the UAE\u2019s favorable macroeconomic fundamentals, on the back of buoyant oil and non-oil activity, to support economic growth in Sharjah and the government\u2019s fiscal objectives,\u201d S&P says. The emirate also has a more diversified economy than other sovereigns in the GCC, with S&P seeing growth in Sharjah\u2019s five biggest sectors \u2014 construction, wholesale and retail trade, real estate activities, manufacturing, and financial services. <\/p>\n

The ratings agency sees the emirate\u2019s GDP growing at a 2.5% clip in 2024<\/strong> and a 2.0% clip in each of 2025 and 2026, while GDP per capita will grow between 1.0-1.5% through 2026. <\/p>\n","protected":false},"excerpt":{"rendered":"

Sharjah is expected to stabilize its debt-to-GDP ratio and improve fiscal performance<\/p>\n","protected":false},"author":1,"featured_media":86806,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1556],"tags":[1391,19,7,20,17,1390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-debt","tag-economy","tag-enterpriseam-uae","tag-gdp","tag-sp-global","tag-sharjah","wpautop","entry"],"acf":{"mongo_id":"6345d715-6b01-46f4-9fed-056b5810d144","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1243.jpg","photo_position":"above","homepage_title":"","full_issue_title":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable","related_issue":[86792],"teaser":"Sharjah is expected to stabilize its debt-to-GDP ratio and improve fiscal performance","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.8f11192d-3623-4ba9-86c7-1adecb740356.mp3"},"yoast_head":"\nS&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable\" \/>\n<meta property=\"og:description\" content=\"Sharjah is expected to stabilize its debt-to-GDP ratio and improve fiscal performance\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-22T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable\",\"datePublished\":\"2023-11-22T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\"},\"wordCount\":276,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"Economy\",\"EnterpriseAM UAE\",\"GDP\",\"S&P Global\",\"Sharjah\"],\"articleSection\":[\"ECONOMY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\",\"name\":\"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-11-22T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/","og_locale":"en_US","og_type":"article","og_title":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable","og_description":"Sharjah is expected to stabilize its debt-to-GDP ratio and improve fiscal performance","og_url":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/","og_site_name":"UAE","article_published_time":"2023-11-22T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable","datePublished":"2023-11-22T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/"},"wordCount":276,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1","keywords":["debt","Economy","EnterpriseAM UAE","GDP","S&P Global","Sharjah"],"articleSection":["ECONOMY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/","url":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/","name":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1","datePublished":"2023-11-22T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/22\/s-outlook-stable\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"S&P affirms Sharjah\u2019s credit rating + T&C assessment; outlook stable"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1243.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/86805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=86805"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/86805\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/86792"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/86806"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=86805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=86805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=86805"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=86805"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=86805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}