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FinancialNews


  • 28-11-18

    Sharjah's 2019 economy to surge 2.9 percent: Moody's

    (MENAFN) Moody's Investors Service is expecting a 2.7 percent boost to be seen in the economy of Sharjah this year, and a 2.9 percent surge next year.

    The expected jump was explained in the report Moody's released to be driven by a recovery seen in capital spending as well as higher oil prices.

    Moody's Analyst Thaddeus Best stated: "gradual institutional improvements and a recovery in the state utility company's financial performance support our current assessment, offsetting the impact of a rising debt burden on the overall credit profile."

    The analyst added: "the outlook also reflects our expectation that new government revenue-raising measures will lead to a stabilisation in the debt burden."

    MENAFN2811201800450000ID1097756491

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