Abu Dhabi's net asset position has reached about 336% of GDP, which alongside proactive policymaking comfortably cushions it from external shocks. An increase in OPEC+ production targets in 2024 should support an acceleration in real GDP growth and further strengthen the government's fiscal position. We therefore affirmed our 'AA/A-1+' sovereign credit ratings on Abu Dhabi. The outlook remains stable. On Nov. 24, 2023, S&P Global Ratings affirmed its 'AA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Abu Dhabi, a member of the United Arab Emirates (UAE). The outlook is stable. At the same time, we maintained our 'AA+' transfer and convertibility assessment on Abu Dhabi. The stable outlook reflects our expectation that Abu
