Credit rating agency S&P Global has reaffirmed Saudi Arabia’s sovereign credit rating at A+ with a stable outlook, citing the Kingdom’s strong policy flexibility, fiscal buffers and ongoing economic diversification.
In its latest assessment, S&P highlighted Saudi Arabia’s ability to redirect crude exports through the East-West pipeline to the Red Sea, alongside significant oil storage capacity, as key factors helping mitigate risks stemming from geopolitical tensions in the Middle East.
The agency also pointed to sustained non-oil economic expansion, forecasting real GDP growth of about 4.4% in 2026 and an average of 3.3% between 2027 and 2029. Non-oil activities, including government services, now account for around 70% of GDP, up from 65% in 2018, reflecting progress under the Kingdom’s Vision 2030 diversification strategy.
Despite expectations of higher public debt linked to investment spending, S&P said Saudi Arabia maintains substantial fiscal reserves and a strong government asset position, supporting long-term economic stability.
