The global credit rating agency Fitch expects that the economy of the Emirate of Abu Dhabi and the Emirate of Ras Al Khaimah will achieve a strong growth rate during the years 2021 and 2022.
The agency said in a recent report that the Emirate of Abu Dhabi is expected to achieve a real growth rate of up to 4.7% by 2022, while the agency expects that the economy of Ras Al Khaimah will grow About 5.5% next year.
The agency suggested that the economy of the capital of the Emirates, Abu Dhabi, will begin to recover from the consequences of the pandemic, to record a growth rate of 0.6% next year, after a contraction of 6.2% this year .
The agency expects that Abu Dhabi will record a current account deficit of about 6% of GDP in the current year, down to 3% next year, and stabilize at zero in 2022 .
The agency pointed in a recent report on the sovereign assessments of the countries of the Middle East to the high evaluation granted to Abu Dhabi (stable / AA).
As for the Emirate of Ras Al Khaimah, Fitch expects in the report that the emirate's economy will grow by about 2.6% in 2022, and this year the emirate is likely to record a surplus of 30.4% in its current accounts % Of GDP, despite the consequences of the pandemic.
and expected that the surplus would reach 24.3 and 20.4% of Ras Al-Khaimah's GDP in the next two years, respectively, while the agency gave the emirate a rating (Stable / A) .
