Wednesday 13, June 2018 by Kudakwashe

Fitch Rating affirms Saudi rating at ‘A+’ with a stable outlook

The kingdom’s ratings are supported by robust fiscal and external balance sheets 

  

Saudi Arabia's long-term foreign-currency Issuer Default Rating (IDR) was affirmed at 'A+', with a stable outlook.

The ratings include high international reserves, low government debt, large government assets, and its commitment to implementing economic reforms, the credit rating agency's report showed, reported Zawya.

Fitch Ratings further indicated that the deficit in the 2018 budget, which was expected at 8.4 per cent of gross domestic product (GDP), indicates a transfer to a more growth-supportive fiscal policy from austerity.

 

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