Economic writer Dr. Nasser Al-Qarawi praised the credit rating agency Fitch's rating of the Kingdom at 'A+' with a stable outlook, according to its recent report.

Al-Qarawi added, in an intervention on the 'Al-Ekhbariya' radio, that this rating is due to the strength of the Saudi economy and its ability to maintain stability, and the Kingdom's solid economic foundations that make it less affected by economic variables.

He continued that this rating was issued in light of the economic stability in the Kingdom despite geopolitical conditions and fluctuations in oil prices, due to the strength of the Kingdom's economic policy and its implementation in line with Saudi Vision 2030 and the indicators that the state continuously monitors.

The agency explained that the Kingdom's credit rating reflects the strength of its financial position and large financial reserves, as government debt levels and net sovereign foreign assets are significantly stronger than the averages for 'A' and 'AA' ratings. The agency noted that despite geopolitical conditions, the Kingdom maintained the resilience of its economy through the resilience of non-oil activities and its public budget.

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