Urgent | "Standard & Poor’s" It confirms the Kingdom’s credit rating at A+ with a stable outlook
The credit rating agency confirmed Kingdom’s credit rating is at "A+" With a stable future outlook, according to its recently issued report.
The agency explained in its report that its confirmation of The outlook also reflects its view that the momentum of non-oil growth, as well as the government’s ability to prioritize, would support the economy and the fiscal path.
The non-oil expansion will also continue to support growth for the medium term, with the agency expecting real GDP to grow (4.4%) in 2026 and the average growth rate to reach (3.3%) during the period 2027 AD to 2029 AD.
The non-oil sector Oil
The agency also stated that the non-oil sector – including government activities – currently represents (70%) of the gross domestic product, up from (65%) in 2018 AD, which reflects structural progress as a result of economic diversification efforts.
The agency explained in its report that despite the expected increase in public debt, it expects the Kingdom to maintain strong financial reserves. In addition, the Kingdom had taken the initiative – before the current geopolitical developments – in Giving priority to diversification projects related to Saudi Vision 2030 to manage plans in line with available resources.
The Kingdom is expected to continue to adopt a flexible and cautious approach in this regard, while affirming its commitment to achieving the goals of Saudi Vision 2030 without exposing public finances to risks.
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