Saudi Arabia Macroeconomic Developments
- Saudi Arabia’s inflation held firm at 2 percent YoY in February. According to the General Authority for Statistics (GAStat), the increase was fueled by an 8.5 percent surge in housing rents, contributing to a 7.1 percent overall rise in the housing, water, electricity, gas, and fuels category.
- Global ratings agency S&P raised Saudi Arabia’s rating to ‘A+’ from ‘A’ with a stable outlook, underpinned by the ongoing social and economic transformation in the country.
- The Organization for Economic Cooperation and Development (OECD) forecasts a 3.8 percent GDP growth in 2025, up from 1.2 percent in 2024. The OECD also forecasts that Saudi Arabia’s inflation will remain low and stable, projected at 1.9 percent in 2025 and 2 percent in 2026.
