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Despite the downgrade, Qatar refuses to recognize losses

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Qatar's Ambassador to the Republic of Venezuela Batal Mojab Al Dosari said in response to Fitch's report on the expected decline in net foreign assets that Doha plans to increase its investments globally and does not intend to liquidate its assets abroad.

He added that Qatar's main investments were concentrated in Europe, but it has plans to invest $35 billion in the United States by the year twenty-two.

The Qatari reaction came after Fitch agency lowered its credit rating to the country with a negative outlook predicting that its net worth of foreign assets would drop.

This is in the light of the boycott imposed by Saudi Arabia, the UAE, Bahrain and Egypt on Doha.

Fitch expected Qatar's net foreign assets to fall to one hundred and forty-six percent of the gross domestic product (GDP) for the year 2017.