sp affirms saudi arabia credit ratings
Saturday 4 January 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

S&P affirms Saudi Arabia credit ratings

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleS&P affirms Saudi Arabia credit ratings

Saudi Arabia
Riyadh - AFP

S&P Global Ratings on Monday affirmed Saudi Arabia's credit ratings, saying the kingdom's sweeping reforms could make it attractive to investors in the medium term despite underlying risks.

The agency maintained its "A-/A-2" ratings on Saudi Arabia and said its outlook was stable, citing expectations the government would take steps to consolidate public finances in the next two years.

"Recent shifts in Saudi Arabia's political power structures and societal norms, alongside various regional stresses, could increase the risk of policy mistakes that could result in increased domestic and geopolitical tensions," S&P said.

"However, we also consider that these structural reforms could empower Saudi citizens and make Saudi Arabia more attractive to investors over the medium term, as the authorities intend."

Crown Prince Mohammed bin Salman last year unveiled his Vision 2030 programme of economic and social reforms for a post-oil era and has recently announced a host of multi-billion-dollar mega projects, including a futuristic megacity with robots and driverless cars.

But this month's wide-ranging crackdown on dozens of elites, ostensibly to tackle corruption, coupled with increased tensions between Saudi Arabia and its regional rival Iran, have provoked concern among investors.

Analysts have warned the uncertainty could intensify capital flight or derail reforms at a time when the kingdom is seeking to attract badly needed investments to offset a protracted oil slump.

Saudi Arabia, the world's top oil supplier, has posted more than $200 billion in budget deficits in the past three years and has withdrawn heavily from its reserves.

Following the energy slump, the kingdom undertook reforms and fiscal measures to cut public spending and boost non-oil revenues.

The kingdom has also introduced a series of price hikes, imposing fees on expats and preparing to introduce value-added tax in the new year.

Source: AFP

themuslimchronicle
themuslimchronicle

GMT 12:49 2018 Tuesday ,16 January

Tabarak Buys Majority Stake in a Private Company

GMT 16:01 2017 Tuesday ,19 December

BCCI board elections date set

GMT 08:05 2017 Sunday ,17 December

Malaysian Premier praises EDB

GMT 09:58 2017 Saturday ,16 December

Saudi Arabia launches new SR30bn export bank

GMT 08:30 2017 Saturday ,09 December

World Bank signs $1.15 billion loan with Egypt

GMT 17:18 2017 Thursday ,07 December

EDB highlights Bahrain investment advantages

GMT 14:44 2017 Tuesday ,05 December

Saudi oil minister reaffirms OPEC output squeeze
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*

sp affirms saudi arabia credit ratings sp affirms saudi arabia credit ratings

 



Themuslimchronicle, themuslimchronicle

GMT 17:22 2012 Thursday ,22 November

Cosmetic brand Pixi unveils SS13 collection

GMT 09:53 2018 Monday ,22 January

Hindi Diwas celebrations at Bhavans Kuwait

GMT 08:06 2018 Wednesday ,17 January

Iran should listen to demands

GMT 12:50 2017 Tuesday ,25 July

Emotional Hosszu retains 200m IM world title

GMT 07:45 2018 Sunday ,07 January

Haggis accused of abusing four women

GMT 14:01 2015 Sunday ,04 January

Can you think your way to strength

GMT 09:02 2016 Thursday ,01 December

The woman who decides what wine presidents drink

GMT 06:21 2017 Thursday ,09 March

Actress Ghada Adel does not care of leading roles

GMT 08:52 2017 Wednesday ,25 October

Anne Frank photo whips up storm

GMT 16:52 2016 Thursday ,08 September

Clinton, Trump war of words escalates as race narrows

GMT 10:10 2015 Thursday ,24 December

Celebrity chefs create gourmet delights

GMT 20:40 2016 Sunday ,03 July

Germany completes Italian job in epic shootout

GMT 22:06 2017 Friday ,10 March

Gold hits lowest since January

GMT 12:02 2012 Friday ,17 August

Lipsy VIP new range

GMT 10:37 2012 Thursday ,26 April

Bond No.9 London Celebration

GMT 12:06 2017 Monday ,13 March

Kajol wraps up shooting for 'VIP 2'

GMT 17:07 2017 Friday ,25 August

Iraqi forces battling in the center of Tal Afar

GMT 11:33 2016 Saturday ,03 September

Loew eyes Germany's rising stars
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