Strong government and external balance sheet with modest levels of debt and large external liquidity. Prosperous economy underpinned by large resource endowment. A track record of prudent and long-term macroeconomic policies. Uncertain succession process alongside still-developing political institutions. High concentration of the economy and government finances relying on oil and gas revenues. Limited monetary policy flexibility. The ratings on the State of Qatar reflect Standard&Poor's Ratings Services' view of the government's strong reported fiscal and external balance sheets. They also reflect strong growth prospects spurred by newly completed large liquefied natural gas (LNG) projects. The ratings are constrained by still-nascent public institutions and limited disclosure, particularly with respect to government assets and their returns. Qatar's economy weathered the
