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.%
1.1100
0.0003
0.0225%
1.2137
-0.0017
0.1399%
17.172
0.067
0.393%
55.845
1.045
1.907%
60.67
0.66
1.10%
1505.505
-6.760
0.447%
 
 
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