The credit rating agency “Standard & Poor's” (S&P) The Kingdom's credit rating in local and foreign currencies to “A+” with a “stable” outlook. The agency explained in its report that the upgrade of the Kingdom's credit rating with a stable outlook comes as a result of the Kingdom's continued progress in economic diversification, the escalating growth of the Kingdom's non-oil sector and the development of the local capital market, which balances the risks of rising external sovereign debt invested in achieving the targets of Saudi Vision 2030 and debt service costs.

The agency explained in its report that the upgrade of the Kingdom's credit rating with a stable outlook comes as a result of the Kingdom's continued progress in economic diversification.

Stimulating investment in the non-oil sector

<As a result, S&P expects real GDP growth to average 4% over the period 2025-2028, and the average state budget deficit to average 4TP3T of GDP.2% of GDP over the same period, as a result of transformational spending that contributes to economic diversification, in addition to its expectation that the Kingdom will maintain a good position of net external assets.

It is noteworthy that the Kingdom has achieved several upgrades in its credit rating from international rating agencies over the past few years, as these developments reflect the improved strength of the Kingdom's institutions and the continued implementation of structural reforms, which contribute to enabling a successful economic transformation and unprecedented diversification of the economy, within the framework of fiscal sustainability and enhancing the efficiency of fiscal planning, which will contribute to supporting a strong and resilient financial center.

The Kingdom has achieved several upgrades in its credit rating from international rating agencies over the past few years.