RIYADH — The most recent updated Standard & Poors credit rating has upgraded its outlook for the Kingdom of Saudi Arabian economy from stable to positive "A- / A-2".

At the same time, it confirmed its short and long term sovereign credit assessment at "A- / A-2".

Such positive expectations reflect the improvement of the gross domestic product of the country and its medium term general budget related to its recovery from coronavirus pandemic.

This is in addition to developments at the oil industry sector and continuation of government reforms program. — SPA