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Fitch Ratings Maintains Stable Outlook for UAE

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Credit rating agency Fitch has maintained the UAE rating at ‘AA-‘ with a stable outlook.

The lock-in is a testament to the strength of the UAE economy, which is making continuous progress, and a confirmation of the great prospects for stability and prosperity in the future.

“The AA- rating reflects the level of the UAE’s consolidated government debt, a strong position in net foreign assets and high GDP per capita,” the agency said in a statement.

After achieving economic growth of 8% in 2022, the UAE is expected to grow by 2.1% in 2023 and 3.6% in 2024, according to Fitch Ratings.

Source: agencies

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