• The agency revised Ras Al Khaimah’s 2026 GDP forecast upward, projecting a growth of 1.5%.

• The decision follows a reassessment by the agency that concluded that the direct risks have eased since April 2026.

International credit ratings agency Fitch has affirmed Ras Al Khaimah’s Long-Term Issuer Default Ratings (IDRs) at ‘A+’.

U.S.-based Fitch, one of the world’s three leading credit rating agencies, said the affirmation followed a reassessment which concluded that the direct war-related risks have eased since April 2026 and that the conflict has “only set back modestly the planned opening time and raised the cost of a potentially transformational investment project.”

The international credit ratings agency explained that while the Emirate’s outlook continues to lean towards ‘Negative’, reflecting the impact of uncertain regional conditions, the ‘A+’ rating is supported by low public-sector debt, substantial fiscal buffers, high GDP per capita and the benefits of UAE federation membership.

Furthermore, Fitch revised the Emirate’s 2026 GDP forecast, projecting a growth of 1.5% in 2026, which marks an upward revision from its previous report, where it had predicted a contraction of 1.8%. The revision was based on data from the first half of 2026, which indicated greater resilience, supported by solid domestic demand and stronger intra-Gulf activity. GDP growth is forecasted to rebound to 5% in 2027 while consolidated public-sector debt will remain broadly stable at about 11% of GDP over the 2026-2028 period.

A spokesperson for Ras Al Khaimah Government said: “Ras Al Khaimah’s continued trajectory of growth, despite regional and global challenges, reflects the resilience and strength of the economy. The Emirate has consistently demonstrated remarkable resilience, turning challenges into opportunities for continued growth. It is precisely this consistent strength, stability and strategic foresight that instill deep confidence in our economy, as evidenced by Fitch’s reaffirmation of our ‘A+’ rating, removal from ‘Rating Watch Negative’ and upward revision of our growth for 2026.”

Ras Al Khaimah, the northernmost of the UAE’s seven Emirates, is home to a thriving and diversified economy with growth recorded and projected across all industries. The Emirate’s GDP composition is split over a variety of sectors, boosting its ability to attract and retain talent and businesses, from SMEs to large international companies.