31 C
Friday, September 24, 2021

Ratings agency underwhelmed by Qatar’s cost-cutting efforts


Though state-funded organizations in Qatar have laid off thousands of people due to budget cuts, the overall impact of the government’s efforts to trim expenses in the face of lower oil prices “remains small,” a ratings agency has said.

However, Fitch said in a report yesterday that it was maintaining Qatar’s AA rating – its second-highest score, which denotes that there is a very low risk of the country defaulting on its debt – thanks in large part to its sizable financial reserves.

Notify of
Inline Feedbacks
View all comments

Related Articles

- Advertisment -

Most Read

Littering in Qatar could cost you QAR 10,000

World Cleanup Day is the largest global cleanup event of the year. Qatari authorities announced a QAR 10,000 penalty for anyone caught littering at beaches,...

Subscribe to Doha News below!

To be updated with all the latest news, offers and special announcements.