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Investing.com -- On Friday, global ratings agency S&P upgraded Saudi Arabia’s rating from ’A’ to ’A+’ with a stable outlook as continuous social and economic changes have been taking place in the country.
Fitch mentioned that the nation’s Vision 2030 project offers some flexibility in managing capital expenditure and debt issuance. This ongoing project is expected to stimulate activity in various sectors such as construction, logistics, manufacturing, and mining.
According to the report, these developments could lead to GDP growth over the period of 2025-28.
Earlier in the week, the ratings agency anticipated that the Saudi government would reduce capital expenditure and related current spending in 2025.
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