Standard & Poor's affirms Saudi credit rating
Standard & Poor's has affirmed that Saudi Arabia's credit rating remains at "A+" with a stable outlook. The agency highlighted the country's ability to withstand geopolitical pressures through diversification of income sources, particularly by enhancing non-oil productivity, which now accounts for about 70% of the GDP. The agency forecasts a 0.9% decline in real GDP in 2026, followed by a strong growth of 8.2% in 2027 supported by increased oil production, with an average growth of 3.3% during 2028 and 2029. It also noted that foreign reserves have reached their highest levels since 2020, and that the kingdom continues to realign its priorities to achieve financial sustainability in line with Saudi Vision 2030.
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