The international credit rating agency, Moody's, raised the outlook for the State of Qatar from stable to positive, and affirmed the country's credit rating at Aa3.

In its latest report, Moody's confirmed that raising the future outlook of the State of Qatar from stable to positive is due to the improvement in the performance of Qatar's public debt, while confirming Qatar's credit rating is supported by several points that demonstrate its ability to withstand challenges and obstacles.

In this regard, the credit institution clarified that among the most prominent strengths are the high per capita income, the huge hydrocarbon reserves, the low cost of extraction, the high value of net assets, and the efficiency of the economic and financial policies.

She added that the high revenues resulting from the rise in energy prices contributed to raising the efficiency of the public debt management of the State of Qatar, and suggested that the expected decrease in capital expenditures and the expected increase in liquefied gas exports would contribute to compensating for any decrease in revenues in the future due to the decline in energy prices in the long run.

Moody's indicated that the high per capita income, in addition to the huge hydrocarbon reserves and the large size of sovereign assets, all contribute to mitigating any risks resulting from dependence on oil as a source of revenue.

The Corporation also mentioned that the large size of sovereign assets and Qatar's hydrocarbon exports are factors that helped mitigate long-term credit risks.