Saudi Arabia’s economic progress led S&P to raise its rating to A+ with a stable outlook. The country’s continued economic changes help it grow beyond oil.
Vision 2030 allows Saudi Arabia to manage spending and investment flexibly. The ongoing progress supports growth in construction, logistics, manufacturing, and mining. These sectors are expected to boost the economy between 2025 and 2028.
The government plans to cut spending in 2025, focusing on smart investments. Saudi Arabia wants to reduce its oil dependence and strengthen other industries. Investment in key projects should increase jobs and business activity. Young people will benefit from more opportunities as the economy expands.
A new $3 billion investment deal between Saudi Arabia’s Public Investment Fund and Italy’s SACE will help stabilize finances. Strong economic planning ensures steady development.
S&P noted that Saudi Arabia remains a major oil player. Its ability to adjust production quickly gives it an advantage in global markets. Even as the world shifts toward clean energy, Saudi Arabia stays competitive by keeping costs low.
The country’s role in OPEC+ also allows it to influence oil prices. However, changes in oil revenue could create challenges in the future. Despite this, steady investments and economic transformation help maintain long-term stability.
Saudi Arabia’s economic changes continue to build a stronger future. The country’s focus on new industries, investment deals, and financial planning strengthens its position. Saudi Arabia’s economic changes will shape its growth in the coming years.
