UAE - Mubasher: Fitch Ratings has affirmed Abu Dhabi's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AA', with a stable outlook.

The rating shows the emirate's strong fiscal and external metrics, high GDP per capita, economic policy framework, and low governance indicators compared with peers, according to a press release on Wednesday.

Meanwhile, Abu Dhabi's government debt is among the lowest of Fitch-rated sovereigns.

The global rating agency expected that Abu Dhabi would record a fiscal surplus of 1.6% of GDP in 2021, after a deficit of 4.7% of GDP in 2020.

In the meantime, the real GDP is forecast to be flat in 2021, after recording around 7% contraction in 2020, as recovery in non-oil activity is offset by lower annual average oil production.