Fitch expects more growth in Abu Dhabi, Ras Al-Khaimah

2018-12-06 17:30:45 GMT (Economies.com)
Fitch expects more growth in Abu Dhabi, Ras Al-Khaimah
 

Fitch Ratings said it forecasts the growth in the gross domestic product (GDP) of the Emirate of Abu Dhabi to reach 2.5% in 2019, projecting the emirate’s government to achieve a financial surplus of 0.6% of GDP in 2019.

The emirate is also expected to record a current account surplus of 3.7%, with the value of overseas sovereign net assets reaching 193% of 2019 GDP.

Meanwhile, the agency expected the economy of Ras Al-Khaimah to grow by 3.5% in 2019, saying it assigned the emirate a “A” rating, according to Al-Khaleej newspaper.

In late November, Fitch affirmed Abu Dhabi’s long-term, local and foreign-currency sovereign rating at “AA”, with Stable outlook.

S&P earlier affirmed the emirate’s long and short-term ratings at “AA/A-1+”, with Stable outlook.

 
 
 
  Symbol Last Change Chg.%
1.1194
-0.0051
0.4491%
1.2951
-0.0051
0.3942%
14.924
-0.081
0.537%
66.362
2.352
3.674%
74.44
-0.06
0.08%
1274.280
-1.420
0.111%
 
 
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