The global credit rating agency “Standard & Poor’s” has affirmed the sovereign credit rating of Ras Al Khaimah at the level of “A/A-1” with a stable outlook. The agency anticipates a robust economic stability within the emirate over the next two to three years.
According to the American agency, one of the three major credit rating firms worldwide, the stable outlook reflects its expectations that the prudent financial management by the Ras Al Khaimah government, along with sufficient financial reserves, provides significant leeway for maneuvering in managing its financial policy amidst current developments.
The report highlighted the “continuity of government policies” enshrined in the emirate’s legislative and executive systems as a crucial factor in the decision to maintain its credit rating. It indicated the tangible progress made by the government in its steadfast commitment to establishing more resilient economic institutions, such as the Ras Al Khaimah Statistics Centre (RAKSC), allowing the emirate to sustain an “A” credit rating since 2008.
A spokesperson for the Ras Al Khaimah government commented that the confirmation of its rating for 2026 with a stable outlook reflects global confidence in the emirate’s ability to keep pace with current developments, guided by the wise and visionary leadership of His Highness Sheikh Saud bin Saqr Al Qasimi, member of the Supreme Council and Ruler of Ras Al Khaimah. The emirate has demonstrated its capability to face challenges thanks to its advanced infrastructure, while it continues to implement plans to ensure its growth and prosperity.
Standard & Poor’s predicts that the Ras Al Khaimah government will maintain a prudent fiscal policy, resulting in an average budget surplus of about 3% of its gross domestic product during the period from 2026 to 2029.
The report affirms Ras Al Khaimah’s ability to adjust its expenditures as a fundamental factor for navigating uncertainty, citing the successful measures taken by the emirate’s government during the “COVID-19” pandemic as a prime example.
Additionally, the report points out that the strong net asset position can partially mitigate financial risks arising from substantial contingent liabilities, expecting that the government’s debt service burden will remain below 5% of its revenues due to the low debt levels.
Ras Al Khaimah boasts a thriving and diverse economy, with its gross domestic product distributed across a variety of sectors, enhancing its capacity to attract and retain talents and businesses—from small and medium enterprises to major global corporations.