Standard & Poor's assigns Kingdom A+ rating
The credit rating agency Standard & Poor's has affirmed Saudi Arabia's rating at "A+" with a stable outlook, citing its ability to manage geopolitical tensions and further diversify the economy as reasons. The agency noted that the non-oil sector's contribution to GDP has increased to 70%, up from 65% in 2018. It forecasted a decline in real GDP of 0.9% in 2026, followed by a growth of 8.2% in 2027, supported by ongoing structural reforms and economic diversification. Additionally, it highlighted that continued government spending on Vision 2030 projects helps sustain public finances and strengthens the country's assets and foreign reserves, which have reached their highest levels since 2020.
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