> The Standard & Poor's confirmed its credit rating to Saudi Arabia at A- with a stable future look.
"The agency, in its report, said the kingdom still possesses strong sovereign assets. Saudi Arabia is the only country in the world, which maintains a major ability to export surplus oil and is therefore able to increase (or reduce) production by 2 million barrels per day within days, as part of its large productive capacity and leadership in OPEC and OPEC, This provides them with some pricing force by supply and financial flexibility that is not available to other oil producers.
On the public financial level, the Agency has reduced its estimates on a budget deficit of 14.1% to 11.2% as a percentage of GDP on its last report in September September 2020. The agency estimates that the budget deficit for the fiscal year 2021, is estimated at about 5%.
> The Agency reviewed its estimates on current account deficit as a proportion of ...
