fitch affirms kingdom’s outlook stable
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Praising its promising future

'Fitch' Affirms Kingdom’s Outlook Stable

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicle'Fitch' Affirms Kingdom’s Outlook Stable

Fitch Ratings
London - Muslimchronicle

Fitch Ratings on Thursday affirmed Saudi Arabia’s long-term foreign-currency Issuer Default Rating (IDR) at 'A+' with a stable outlook. Fitch said that Saudi Arabia’s ratings are “supported by strong fiscal and external balance sheets, including exceptionally high international reserves, low government debt, significant government assets and strong commitment to an ambitious reform agenda.”

The Fitch report said central government deficit is expected to narrow to 8.7 percent of GDP in 2017, from 17.2 percent in 2016. Fitch praised the strength of the Saudi banking system, where it classified the banking sector in the Kingdom as "A", which is a very strong rating with only four countries in the world receiving such higher rating.

Finance Minister Mohammad al-Jadaan said that Fitch rating is an additional indicator that Saudi Vision 2030 and its programs are efficient. “It also affirms our strong economy and proves that we are building firm bases for sustainable growth and progress on the long-term,” Jadaan added.“A huge progress has been achieved. We are heading towards 2018, looking forward to achieve and build a better future for the kingdom and the private and public sectors,” he continued.

This positive rating coincides with a statement by Morgan Stanley President Colm Kelleher for Asharq Al-Awsat that international investors consider the kingdom an attractive market that provides growth potentials.

“Saudi Vision 2030 offers a clear road-map towards achieving development and prosperity,” he said, adding that the kingdom has several promising sectors for foreign investors, especially that Morgan Stanley doesn’t focus on one sector only. These developments come in time when Saudi Arabia has become a new investments destination and a platform for economic reforms with its global economic weight.

themuslimchronicle
themuslimchronicle

GMT 07:31 2018 Tuesday ,16 January

UK construction firm Carillion collapses

GMT 08:20 2018 Monday ,15 January

EU more dependent on Russian gas

GMT 10:12 2018 Friday ,12 January

Brexit could cost nearly 500,000 UK jobs

GMT 09:43 2018 Monday ,01 January

Chinese ban on ivory sales goes

GMT 07:57 2017 Tuesday ,26 December

Don’t panic! Oil price outlook improves
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

fitch affirms kingdom’s outlook stable fitch affirms kingdom’s outlook stable

 



Themuslimchronicle, themuslimchronicle

GMT 17:35 2017 Wednesday ,27 December

Egyptian MP underlines Egypt’s ability

GMT 15:43 2011 Sunday ,15 May

US bid to save Louisiana cities

GMT 12:06 2012 Friday ,04 May

Is there a solution for Sudan?

GMT 07:43 2014 Tuesday ,12 August

Where is Assad on Gaza

GMT 07:44 2017 Tuesday ,07 February

Holding local elections requires dialogue

GMT 10:23 2016 Saturday ,16 January

Jazz parades and glittery parties

GMT 14:45 2017 Thursday ,07 September

NATO on guard ahead of major Russian war games

GMT 23:59 2011 Wednesday ,09 March

Exxon Scores Key Victory In Alaska

GMT 12:13 2011 Friday ,16 December

Beckham Style Icon for Over 50

GMT 13:53 2011 Tuesday ,28 June

De Gea confirms Manchester United offer

GMT 23:07 2012 Tuesday ,31 January

The Kardashian Sisters Topless

GMT 08:21 2011 Wednesday ,28 December

Modern rocking chair

GMT 00:52 2011 Friday ,25 November

Graffiti as art in order-conscious Singapore

GMT 04:01 2015 Tuesday ,17 February

Qatar national library to host event for children

GMT 10:18 2012 Sunday ,08 January

Mental illness 'rampant' in Somalia

GMT 07:17 2015 Monday ,02 March

Tintin set to go at Paris auctions

GMT 14:27 2017 Monday ,06 February

NATO starts anti-Daesh bomb training in Iraq

GMT 09:06 2016 Wednesday ,26 October

Canada parliament votes to take in Yazidi refugees

GMT 20:28 2017 Monday ,19 June

Deadly wildfires around the world

GMT 04:31 2017 Thursday ,16 February

Tunisian designers look to past for inspiration
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle