S&P Affirms Saudi Arabia at A+ With Stable Outlook

Saudi Arabia has had its sovereign credit rating affirmed at A+ with a stable outlook as of September 13, 2026, in the latest assessment by a leading global ratings agency. The affirmation reflects the Kingdom's resilient non-oil economy and strong financial position.

The stable outlook is supported by durable non-oil economic activity, robust fiscal buffers, and the Kingdom's flexibility to adjust investment spending linked to رؤية السعودية 2030 while preserving economic and fiscal stability.

non-oil sectors — including government activities — now make up about 70% of GDP, up from around 65% in 2018, underlining continued progress in diversification. Recent trackers place the non-oil share of real GDP at roughly 55–57% in 2025, with non-oil real growth of about 4.6–4.9%.

On the outlook, real GDP is expected to contract by about 0.9% in 2026 before rebounding sharply by around 8.2% in 2027, with average growth near 3.3% across 2028–2029, aided by higher oil production. Other major rating agencies currently assign Saudi Arabia comparable ratings of A+ (stable) or Aa3 (stable), consistent with the Kingdom's strong external and fiscal standing.

For residents, investors, and businesses, a stable sovereign rating generally signals confidence in the country's economic direction and can support favorable borrowing conditions and continued investment. The rating action is an external analytical assessment and does not involve any fees, portal procedures, or steps for residents or businesses.

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