RIYADH. Saudi Arabia’s economy continues to shine as Fitch Ratings reaffirmed the Kingdom’s credit rating at A+ with a Stable Outlook. The latest report highlights the nation’s robust financial health, driven by a low debt-to-GDP ratio and substantial sovereign net foreign assets, far surpassing the averages for both ‘A’ and ‘AA’ rating categories.
The Kingdom’s financial reserves, including vast deposits and public sector assets, remain a cornerstone of its economic strength. Fitch projects these assets will reach 35.3% of GDP by 2027, dwarfing the ‘A’ category median of just 3.1%. This underscores Saudi Arabia’s ability to weather global economic shifts with confidence.
Ongoing fiscal reforms are further bolstering the Kingdom’s resilience against oil price volatility. By boosting non-oil revenues and strengthening public budgets, Saudi Arabia is paving the way for sustainable growth. These efforts align with Vision 2030, cementing the Kingdom’s position as a global economic powerhouse with a bright and stable future.