May 3, 2018 – In its latest Annual Credit Analysis report, Moody’s has reaffirmed Saudi Arabia’s credit rating as A1 stable. The Moody report highlighted the Kingdom’s strong fiscal position, significant liquidity buffers, and a sizable stock of oil reserves combined with low extraction costs as indicators of its credit strength. Despite declining oil prices which have pushed Saudi Arabia’s into further deficit, Moody’s reported that the Kingdom’s overall balance sheet remains robust. The report further predicted an average price of $60 per Brent oil barrel in 2018 which will narrow the Kingdom’s deficit to 5.7 percent of GDP in 2018, and 5.2 percent in 2019.
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