S&P Maintains Kingdom's A+ Rating
Standard & Poor's has maintained Saudi Arabia's credit rating at A+/A-1 with a stable outlook, expressing confidence in the Saudi economy's ability to overcome current economic and financial pressures. The agency pointed out that the diversification of oil exports and rising oil prices contribute to strengthening the Kingdom's capacity to withstand regional effects and conflicts. It also forecasted an increase in Saudi oil production by 2027, without reaching the maximum production capacity of 12.3 million barrels per day, reflecting the ongoing strength of the energy sector and supporting Vision 2030 to achieve financial sustainability and reduce the budget deficit.
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