Moody's has given Saudi Arabia an A1 rating with a positive outlook, reflecting reforms and investments in several non-oil sectors.
In its credit report to Saudi Arabia, the agency noted that the Kingdom's rating came due to its tangible progress in comprehensive reforms since 2016, and the effectiveness of its fiscal and macroeconomic policy, which was supportive of the sustainability of economic diversification.
Moody's predicted that the continued implementation of various large projects in Saudi Arabia will support the growth of non-oil real GDP, as they are characterized by accuracy and exemplary design and marketing in specific stages, which enhances their effectiveness and facilitates their implementation.
The report touched on the country's growing economy, the government's efforts in institutional development and improving policy effectiveness, the Kingdom's strong financial position, and large foreign exchange reserves.
Source (Al-Arabiya.net Website, Edited)
