Fitch affirms Saudi Arabia's credit rating at 'A+' with a stable outlook

The agency, citing a recent report, clarified that the Kingdom’s credit rating reflects the strength of its financial position and its substantial financial reserves, as government debt ratios and net foreign sovereign assets are significantly stronger than the averages for “A” and “AA” rated countries.

The agency noted that, despite geopolitical conditions, the Kingdom has maintained economic resilience through the flexibility of its non-oil activities and its general budget.

The agency also forecast a recovery in real GDP growth in 2027, as the resumption of shipping flows through the Strait of Hormuz would enable increased oil and petrochemical production, with growth expected to return to a rate of 2.9% by 2028.

The International Monetary Fund had previously raised its growth forecast for the Kingdom in 2027 by one percentage point to 5.5%. These adjustments come amid the Fund’s expectations of shifts in the global economic trajectory and energy markets, with ongoing impacts from geopolitical factors and oil production developments on crude-exporting economies.