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FinancialNews


  • 07-10-18

    Saudi Arabia forecast to see 2 percent economic growth

    (MENAFN) Saudi Arabia was forecast to see an average of more than 2 percent growth in its economy throughout 2019 to 2021.

    The Kingdom is to see stability in 'A-/A-2' unsolicited long- and short-term foreign and local currency sovereign credit ratings, as expects S&P Global Ratings in its latest report.

    The agency noted that its projected growth for the Kingdom is driven by the forecast of moderate economic growth that is to proceed until 2021.

    The report showed that a material deviation from official fiscal goals is not projected, even though high fiscal revenues were received with higher spending.

    It added "we expect that the Saudi authorities will continue to take steps to consolidate public finances over the next two years, while maintaining the government's large stocks of liquid external assets. We could raise the ratings if Saudi Arabia's economic growth prospects improved markedly beyond our current assumptions."

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