Abdullah Al-Haqim 
Standard & Poor’s credit rating agency has raised the Kingdom’s credit rating in local and foreign currencies to “A+” with a “stable” future look.
In its report, the agency stated that raising it to the Kingdom’s credit classification with a stable future view comes as a result of the Kingdom’s continuous progress in economic diversity, the escalating growth of the non -oil sector in the Kingdom and the development of the local capital market, which balances the risks of the high external sovereign debt invested in achieving the Kingdom’s 2030 vision targets and debt service costs.
The agency also praised the Kingdom’s movement towards stimulating investment, which will enhance the growth of the non -oil sector, and also enhance the elasticity of the economy in the medium term, and as a result, “Standard & Poor’s” expects that the average real GDP growth will reach 4% during the period 2025 – 2028 m, quoting the Saudi Press Agency – “SPA”.
The agency expected that the average deficit of the state’s general budget will reach 4.2% of the gross domestic product during the same period, as a result of the transformational spending that contributes to advancing economic diversification, in addition to its expectation that the Kingdom will maintain a good situation for net external assets.
