Saudi Arabia’s credit rating has been upgraded to A+ by a leading global ratings agency, reflecting progress in the nation’s social and economic reforms.
Analysts highlight that the ongoing Vision 2030 initiative is providing the government with greater flexibility in managing investments and public debt, supporting growth across sectors such as construction, logistics, manufacturing, and mining.
The report suggests that these reforms are expected to drive GDP growth between 2025 and 2028, even as the government plans to scale back capital and operational spending next year.
Efforts to diversify the economy away from oil continue, with current investments aimed at increasing domestic consumption and expanding the productive capacity, particularly benefiting the country’s young population.
In a recent development, the Public Investment Fund entered into a $3 billion agreement with Italy’s export credit agency, further supporting economic diversification goals.