Moody's: Saudi economy resilient due to assets and investments

Moody's expects the strength of Saudi Arabia's credit fundamentals to remain robust over the next two years, supported by the resilience of its government financial assets, particularly those linked to the Public Investment Fund, which is projected to account for around 18% of the GDP by the end of 2025. This enhances the government's capacity to withstand financial pressures and support the economy. Non-oil growth continues to be a key source of strength, with forecasts indicating that the country's real GDP will grow by approximately 8.5% next year, driven mainly by non-oil activities, investments related to Vision 2030, and government and private sector projects. The report emphasizes that ongoing government and private investment, alongside the implementation of Vision projects, contributes to economic diversification and reduces dependence on oil revenues in the long term. Additionally, the country's government asset reserves, with Central Bank liquidity exceeding 9% of GDP, provide buffers to face economic fluctuations. Meanwhile, Saudi Arabia continues to make substantial investments, with an expansionary budget projecting spending of nearly 1.5 trillion riyals in 2027 to support sustainable growth and diversify income sources.

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