“Standard & Poor's” (S&P) maintained Saudi Arabia's credit rating in local and foreign currency at AA-1 with a "stable" outlook, based on its expectations that the government's reform agenda will continue to develop the development of the non-oil sector, in addition to public financial management efforts, and maintaining a balanced level of public debt.
Expecting that the Kingdom will achieve annual growth in the next three years at a rate of 3.4 percent, supported by the expected increase in demand for oil and the noticeable growth in the non-oil sector. It revealed that inflation in Saudi Arabia has remained largely under control, expected to reach 2.7 percent in 2023, and an average of 2.3 percent in 2024-2026.
Source (Al-Asharq Al-Awsat Newspaper, Edited)
