Leading ratings agency Standard & Poors has upgraded its outlook for Saudi Arabian economy from stable to positive with A- / A-2 credit ratings, reported SPA.

At the same time, it confirmed its short and long term sovereign credit assessment at "A- / A-2", it stated.

Such positive expectations reflect the improvement of the kingdom's gross domestic product and its medium term general budget related to recovery from Covid-19 pandemic in addition to developments at the oil industry sector and contiuation of government reforms programme, it added.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).