Dubai, UAE – Oct. 2026 – Fitch Ratings has affirmed Ras Al Khaimah’s long-term rating at “A+”, a move that reflects easing direct risks from geopolitical challenges since April 2026, which were limited to a minor delay and a marginal cost increase in the launch of one of the emirate’s major transformational investment projects.
The agency said the emirate’s rating has held at this high level despite unsettled regional conditions, supported mainly by strong fiscal performance, including low public debt, ample financial reserves and high GDP per capita. It also cited the strategic and competitive advantages Ras Al Khaimah enjoys as part of the United Arab Emirates.
Fitch revised its 2026 GDP growth forecast for the emirate to 1.5 percent, a positive adjustment from its previous report, which projected a contraction of 1.8 percent. The revision is backed by first-half 2026 data showing the emirate’s economic resilience and strong capacity to withstand challenges, helped by robust domestic demand and growing trade activity among Gulf countries.
The agency expects growth to accelerate to 5 percent in 2027. Consolidated general government debt is projected to remain relatively stable at around 11 percent of GDP between 2026 and 2028.
Achievement “not a coincidence”
An official spokesperson for the Ras Al Khaimah government said the emirate’s continued growth despite regional and global challenges reflects the resilience and strength of its economy, adding that the achievement did not come by chance.
The spokesperson said the emirate has repeatedly demonstrated an exceptional ability to withstand pressures and turn challenges into pioneering development opportunities, which strengthens confidence in its economy. This, the spokesperson said, was clearly reflected in Fitch affirming the “A+” rating, removing it from negative watch, and revising its 2026 growth forecast upward.
