Riyadh: S&P Global has upgraded Saudi Arabia’s local and foreign currency credit rating to A+ with a stable outlook, citing progress in economic diversification, non-oil sector growth, and capital market development.
The agency noted that these advancements help mitigate risks from rising external sovereign debt, which is strategically invested under Vision 2030 while managing debt servicing costs. Saudi Arabia’s investment measures are expected to drive non-oil growth and economic resilience.
S&P projects the Kingdom’s real GDP growth to average 4% from 2025 to 2028, with a fiscal deficit of 4.2% of GDP during the period due to transformational spending.
Despite this, Saudi Arabia is expected to maintain a strong net asset position. The Kingdom has received multiple credit rating upgrades in recent years, reflecting its institutional strength, structural reforms, and commitment to economic transformation.
[Reported by Asharq Al Awsat]
