Moody’s affirms credit rating of ‘A’ to Saudi Arabia with stable outlook

Credit rating agency Moody’s Investors Service has affirmed Saudi Arabia's rating at ‘A’ to Saudi Arabia with a stable outlook, primarily driven by the government’s fiscal policy effectiveness.

VISION 2030, SAUDI ECONOMY, MOODY'S


The Saudi national debt management center said in a press release citing Moody’s that the latter expected that Saudi Arabia’s GDP will grow at an average rate of 5 percent in the period 2021-2023, supported by further post-pandemic recovery, progress on economic diversification, capital and development projects, and a further unwinding of oil production cuts.

According to the center, Moody’s added that the growth of financial institutions in the Kingdom highlights the positive impact of the structural measures and reforms taken by the government in the past five years.

Read More : https://www.arabnews.com/node/2099076/business-economy

Comments

Post a Comment

Popular posts from this blog

Oman's royal cavalry to the fore at Queen Elizabeth II's platinum jubilee spectacular

Image
Mounted troops from the Middle East were at the forefront of a star-studded equestrian show celebrating Queen Elizabeth II's platinum jubilee. The British monarch was honoured with a standing ovation at the Royal Windsor Horse Show on Sunday. The queen, who is marking 70 years on the British throne, applauded as The Royal Cavalry Oman performed an expert display of horsemanship. Those at the open-air arena near Windsor Castle were treated to a traditional display, including a group of horses who laid down midway through the performance in an impressive move alongside their trainers. The Bahrain Defence Force and the Royal Canadian Mounted Police escorted the queen from the arena back to Windsor Castle after the show. King Hamad of Bahrain had been personally invited to the event by the queen but was unable to attend after the death of the UAE's President Sheikh Khalifa on Friday. Tom Cruise and Dame Helen Mirren led the cast of entertainers who appeared in the first major event...
Read more

Russia-Ukraine war latest: more than 3.5 million people have fled Ukraine, says UN

Image
 More than 3.5 million people have fled Ukraine since the war began in late February, said the UNHCR on Tuesday. People clean a room in an apartment building destroyed during an air raid, amid Russia's invasion of Ukraine, in Kyiv, Ukraine. The latest UN figures came a day after Ukraine said that up to 12 million people had been driven from their homes by the Russian invasion as officials in central Europe said they were reaching full capacity to look after refugees. Ukraine's major cities again came under heavy bombardment from Russian artillery and air strikes on Tuesday. The southern city of Mariupol has been largely destroyed but remained in Ukrainian control as of Tuesday afternoon. Russian forces have largely "stalled" and made limited progress on Monday, reported British defence intelligence, with Ukraine claiming to have retaken the key town of Makariv outside Kyiv early Tuesday. However, Ukraine also said that Russian forces had made inroads in Kyiv's nor...
Read more

As the economy develops credit intensity would probably increase initially, calls Shyam Maheshwari SSG

Image
Shyam Maheshwari SSG describes the Indian credit market and how it is dominated by private lenders. The Indian credit market has been dominated by banks and non-bank financial companies for a long period. It started with the primary dominance of PSU banks then the private sector banks came along.   Still, the credit to GDP ratio is relatively modest and low for the stage of growth of the country.   As the economy develops credit intensity would probably increase initially and the need for credit is very much out there. The challenges the banks and non-banks as you have rightly pointed out may not be able to fulfil that requirement and that’s where the private credit demand is extremely apparent and necessary for the growth, says Shyam Maheshwari. Shyam Maheshwari thinks that taking what he said on the flexibility, also emanates from the regulated players which have been dominating the market for a long time whether it is a bank or a non-bank. One is regulated second is lev...
Read more