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FINANCIAL NEWS
Saudi economy more resilient than expected
07 Nov 2015
(MENAFN) Despite the global economic tensions and a sharply reduced oil price the Kingdom continues to maintain its high credit and investment grade. Ratings agency Moody’s has just confirmed Saudi Arabia’s Aa3 sovereign rating.
The report the agency has issued to back up its strong assessment of the economy is extraordinarily positive. This bullish view is not simply based upon the core numbers.
It is clear that the Kingdom’s past performance in managing economic downturn has informed the ratings agency’s judgment. Moody’s makes the key observation: ‘Saudi Arabia’s economy is far more resilient than meets the eye’.
Despite the stunning infrastructural transformation the management of Saudi finances has always been conservative.
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