Saudi Press: Fitch affirms Saudi Credit Rating at A with a revised outlook to stable from negative

  • 2/5/2023
  • 04:05
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Riyadh, July 17, 2021, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Yaum newspaper reported in its editorial that expecting challenges and changes that may have an impact on the economy in the near or distant future is a matter reflected on the strength and ability of economies of states to face different crises while being an attractive environment for global investments. After launching Vision 2030 development programs, the Kingdom of Saudi Arabia has not only achieved strength and leadership for the Saudi economy, but also proved its ability to face the most difficult economic crises in modern history including the COVID-19 pandemic. In this regard, the international credit rating agency "Fitch" affirmed Saudi Arabia's credit rating at "A" and revised the outlook to stable from negative. This makes the Kingdom of Saudi Arabia, due to its economic reforms and the appropriate policies and processes taken against the fallout of COVID-19 pandemic, among only a few countries who had a positive revised credit rating outlook. The newspaper added that this revision of Saudi's outlook by Fitch from negative to stable, affirms the positive reforms that have been taken by the government of Saudi Arabia during the last five years through Saudi Vision 2030, which was positively reflected on the fiscal policy and raising the efficiency of government performance. Furthermore, Fitch’s revision comes to reiterate the Kingdom’s continued commitment to the plans of diversifying sources of income and improving the performance of the local economy to meet the aspirations of the leadership and achieve 2030 Vision goals, the newspaper concluded. --SPA 09:36 LOCAL TIME 06:36 GMT 0007 www.spa.gov.sa/w1586821

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