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.%
1.1336
0.0037
0.3261%
1.3031
0.0124
0.9642%
15.999
0.220
1.394%
57.090
1.317
2.360%
67.08
0.63
0.95%
1338.360
17.025
1.288%
 
 
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