Moody’s: The UAE has a great ability to face challenges

Its economy is less dependent on oil. It has attracted large foreign investments and highly skilled human talent. A recent report issued by Moody’s confirmed that the UAE is considered one of the Middle Eastern economies most able to withstand the repercussions of the ongoing conflict in the region, thanks to its large financial reserves, the diversification of its economy, and its possession of an energy and trade infrastructure that reduces the impact of any disturbances in the Strait of Hormuz. The report indicated that the Emirate of Abu Dhabi (granted an Aa2 rating, stable), along with Qatar and Kuwait, possesses one of the largest government financial reserves in the region, which provides it with strong support to maintain financial stability even if the conflict continues for a long period.