Fitch affirms Saudi Arabia’s credit rating at A+ with stable outlook

Saudi Gazette report

RIYADH — Fitch Ratings has affirmed Saudi Arabia’s sovereign credit rating at A+ with a stable outlook, according to a report issued by the agency on Friday.

Fitch said the Kingdom’s credit profile reflects the strength of its fiscal position, noting that its government debt-to-GDP ratio and net sovereign foreign assets are significantly stronger than the medians for both the “A” and “AA” rating categories.

The agency also highlighted Saudi Arabia’s substantial financial buffers, including deposits and other public sector assets.

The ratings agency projected real GDP growth of 4.8% in 2026 and expects the fiscal deficit to narrow to 3.6% of GDP by the end of 2027.

Fitch said non-oil revenues are expected to continue benefiting from strong economic activity and improved revenue efficiency.

Fitch also praised the momentum of economic reforms, including the updated investment system and the continued opening of the real estate and equity markets to foreign investors.