KSA, 3 February , 2025 : Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook, citing strong fiscal and external balance sheets.
The agency noted that Saudi Arabia’s government debt-to-GDP and Sovereign Net Foreign Assets (SNFA) levels are well above the 'A' and 'AA' medians, with substantial fiscal buffers in deposits and public sector assets. SNFA is projected to reach 63.7% of GDP in 2024-2025, compared to the ‘A’ median of 8.7%.
Fitch highlighted fiscal reforms enhancing budget resilience to oil price volatility as a potential driver for future rating improvements. It also expects robust growth in non-oil exports and a narrowing services balance deficit, supported by strong travel sector performance.
Source : www.mof.gov.saRelated Posts
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