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Good news from Saudi Arabia – IG News

Riyadh: The global credit rating agency “Fitch” has maintained Saudi Arabia’s ‘A’ position in the rankings.

According to Arab media reports, Fitch has maintained the country’s credit rating in the world rankings and has also confirmed Saudi Arabia’s ‘future outlook’.

The International Credit Rating Agency also highlighted the massive rise in oil prices and the steps taken by the Saudi government to control the financial situation, and said that despite the decline in recent years, Saudi Arabia’s foreign exchange reserves remained low. The volume is still large.

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The agency predicts that the country’s budget deficit on GDP will be reduced by 3.3% in 2021, while the unemployment rate in Saudi Arabia also fell last year.

In July, the International Monetary Fund (IMF) said it expected Saudi Arabia’s economy to recover better than the Corona epidemic.

Credit ratings predict that Saudi Arabia’s non-oil economy will grow by 4.3% this year, as well as real GDP growth of 2.4%. Will be.

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