Fitch Keeps Ras Al Khaimah's A+ Rating and Upgrades Growth Outlook

Fitch Ratings has reaffirmed Ras Al Khaimah's credit rating at A+, while upgrading the economic growth forecast for 2026 to 1.5% instead of the previously expected contraction of 1.8%. This assessment reflects the emirate's strong fiscal performance, supported by low public debt, ample reserves, and a high per capita Gross Domestic Product. Despite the geopolitical challenges that began in April 2026, Ras Al Khaimah's economy has demonstrated significant resilience, with growth expected to accelerate to 5% in 2027. The public debt ratio is projected to remain stable at 11% of GDP through 2028.

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