The global rating agency Fitch confirmed the credit rating of the Kingdom of Saudi Arabia at grade (A +) with a stable outlook.
In its report, Fitch noted Saudi Arabia's financial strength, including foreign reserves and a low public debt ratio.
She also pointed to the huge government assets, confirming that the kingdom still has one of the largest sovereign assets of the countries classified with it.
Fitch added that structural reforms within the framework of the Kingdom's Vision 2030 programs could boost growth in the medium term and it might support the acceleration of non-oil GDP growth to 2.5% in 2020. / 2019.
The agency expected that the kingdom's public debt will rise to 22% of GDP by 2020, indicating that this percentage is still less than the average of the countries classified in the category ( A).
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