Saudi Arabia’s Ministry of Finance reported that S&P Global affirmed the Kingdom’s A+ sovereign credit rating with a stable outlook. The outlook reflects S&P’s assessment that Saudi Arabia can withstand pressures from the ongoing Middle East conflict, supported by diversified energy export infrastructure, substantial oil storage and refining capacity, resilient non-oil activity and the government’s ability to adjust Vision 2030 investment spending. S&P expects real gross domestic product to contract 0.9% in 2026 before expanding 8.2% in 2027 as oil production increases, followed by average growth of 3.3% in 2028-2029. The non-oil sector, including government activities, accounts for about 70% of GDP, up from 65% in 2018. The agency also cited Saudi Arabia’s substantial net general government asset position, foreign-exchange reserves at their highest level since early 2020 and the recalibration of Vision 2030 projects as supports for fiscal resilience.
2026-09-12Ministry of Finance (Saudi Arabia)
Saudi Arabia’s Ministry of Finance reports S&P affirmation of A+ rating with stable outlook
Saudi Arabia’s Ministry of Finance reported that S&P Global affirmed the Kingdom’s A+ sovereign rating with a stable outlook. The assessment reflects resilient non-oil growth, strong government assets and energy export flexibility, while S&P forecasts a 0.9% GDP contraction in 2026 followed by 8.2% growth in 2027.