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

Oil prices edge higher amid tight market and weaker dollar

Image
Oil prices edged higher on Monday after losing steam last week due to tight market conditions and material takeaways for the energy industry from US President Joe Biden’s visit to the Middle East. Both Brent, the benchmark for two thirds of the world's oil, and West Texas Intermediate, the gauge that tracks US crude, recovered from steep declines Tuesday last week when Brent plunged nearly 7 per cent and WTI plummeted 8 per cent. Brent was up 2.78 per cent at $104 at 12.11pm UAE time on Tuesday. WTI, the gauge that tracks US crude, gained 2.57 per cent to $100.1 a barrel. "Crude oil prices continue to remain unfazed by Biden’s visit to Saudi Arabia," said Naeem Aslam, chief market analyst at Avatrade. "Last week’s sell-off became an opportunity for many as investors are still betting that oil prices are unlikely to drop significantly anytime soon. Traders got one clear message from Biden’s recent visit to Saudi Arabia ... the message is that it is Opec+ that makes th...
Read more

Britain to launch new 'climate change' exam to focus on protecting the planet

Image
 The British government is set to launch a new exam to tackle the issue of climate change. The move comes amid sustained calls from environmental campaigners to teach children the importance of protecting the planet from an early age. The new natural history GCSE qualification is set to be announced by the UK's Education Secretary Nadhim Zahawi on Thursday and is expected to be launched in September 2025. The announcement will come as part of the Department for Education's sustainability and climate change strategy. “Sustainability and climate change are the biggest challenges facing mankind," Mr Zahawi said. “None of us can be in any doubt just how critical they have become. The new natural history GCSE will offer young people a chance to develop a deeper knowledge and understanding of this amazing planet, its environment and how to conserve it.” The DfE said the course would teach pupils about environmental and sustainability issues “to gain a deeper knowledge of the nat...
Read more

New York man indicted on hate crime charges for attacks Asian women

Image
  The man accused of attacking seven Asian women in New York earlier this year was indicted on Monday by the state’s Supreme Court. Steven Zajonc was indicted on six felony counts of assault as a hate crime and seven counts of aggravated harassment as a misdemeanor hate crime, according to a statement from the district attorney’s office. “These attacks on seven New York women, each fueled by anti-Asian hate, are yet another sobering reminder of the demonstrable fears AAPI communities, particularly AAPI women, in our City continue to face,” Manhattan District Attorney Alvin Bragg said in the statement. In a span of about three hours, the 28-year-old homeless man conducted a series of unprovoked attacks against women in Manhattan. He specifically “approached the women from behind before striking them in the face with a closed fist or his elbow and fleeing the scene,” according to Bragg. The women were all Asian and between the ages of 19 and 57. Six suffered injuries, such as bleedi...
Read more