Strong government and external balance sheet with modest levels of debt and large external assets. Prosperous economy underpinned by a significant resource endowment. A track record of prudent and long-term oil and gas resource development. Still-developing political institutions alongside an uncertain succession process and limited transparency on government assets. Limited monetary policy flexibility. High concentration of the economy and government finances on oil and gas revenues. The ratings on Qatar reflect Standard&Poor's view of its high economic wealth and strong fiscal and external balance sheets. The ratings are constrained by limited monetary policy flexibility, still-nascent public institutions, and limited disclosure, particularly with respect to government assets and their returns. Qatar is one of the wealthiest economies we rate,
