Story details
Saudi Arabia’s Ministry of Finance said on September 12 that S&P Global Ratings had affirmed the Kingdom at A+ with a stable outlook. The ministry’s account says S&P cited diversified energy-export infrastructure, the ability to redirect crude through the East-West pipeline to the Red Sea, and domestic and overseas oil storage and refining capacity as buffers against pressures from the regional conflict.
S&P projected real GDP would contract 0.9% in 2026, then grow 8.2% in 2027 as oil production rises, before averaging 3.3% growth in 2028–2029. The ministry said the non-oil sector, including government activity, represents about 70% of GDP, up from 65% in 2018. These are the agency’s forecasts and assessment, not realized outcomes.