Economy and macroUpdated 2h ago

Fitch affirms UAE at AA-; outlook stable

Fitch affirmed the UAE’s long-term issuer default ratings at AA- with a stable outlook in its Nov. 13 action, according to Arab News. The agency cited low consolidated government debt, a strong net external asset position and high GDP per capita. Arab News also highlighted Fitch’s assessment that oil-export revenues remained resilient despite the regional war. Forecasts attributed to Fitch by Argaam point to uneven performance: real GDP growth of 0.5% in 2026, alongside a 1.5% contraction in non-oil GDP and a decline of close to 5% in Dubai’s economy. Fitch projects hydrocarbon GDP growth of about 7% in 2026 and 26% in 2027. These are forecasts, not achieved results; Fitch also identified countervailing risks.

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