Abu Dhabi – Mubasher: Standard and Poor’s (S&P) has affirmed Ras Al-Khaimah's rating of sovereign issuance by domestic and foreign currencies at "A/A-1" for the long- and short-term, while maintaining its "Stable" future outlook.
S&P’s report forecast that Ras Al-Khaimah’s economy will grow about 3% in the coming years.
The manufacturing sector contributes about 25% of the economy’s gross domestic product (GDP) in Ras Al-Khaimah, the real estate and commercial services sectors make up about 9%, the wholesale and retail sector represents 12%, and the oil and gas sector 5%, S&P concluded.
Source:
Mubasher