Moody’s Investor Service has affirmed the Kingdom’s A1 rating with a stable outlook and raised its GDP growth forecasts for the period (2018-2019) to 2.5 percent and 2.7 percent respectively, instead of its previous expectations of 1.3 percent and 1.5 percent for the same period reported in April this year.
Among the most positive expectations about the Saudi economy:
Raised the growth forecast for 2019 from 1.5% to 2.7%, while the government's forecast for growth in 2019 was 2.3%.
Cut the budget deficit forecast in 2018 from 5.8% of GDP to 3.5%.
Cut the budget deficit forecast for 2019 from 5.2% of GDP to 3.6%.
The trend of public debt has improved by less than 25% over the medium term.
