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FinancialNews
21-07-22
Moody’s estimates Saudi economy to expand 3.9pct on average for next four years
(MENAFN) In line with credit rating agency Moody’s Investors Service, Saudi Arabia’s economy is estimated to expand at an average level of 3.9 percent starting this year up until 2026.
In its yearly credit study, Moody’s assured Saudi Arabia’s rating at ‘A1’ with a steady forecast, mainly motivated by its strong administration balance sheet, reinforced by moderate debt rates and considerable economic reserve buffers.
The report mentioned that the big share of verified hydrocarbon reserves with low extraction prices joint with a well-structured economic plan is also backing the Kingdom’s sovereign credit profile.
The report went further on mentioning that some of the difficulties tackled by Saudi Arabia include its high financial as well as fiscal exposure to decreases in worldwide oil request in addition to costs, longer-term dangers stemming from the worldwide carbon transition and tests posed by raised joblessness.
MENAFN21072022000045014228ID1104566551
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