February 23, 2024

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Saudi Arabia upgraded by Fitch on sturdy fiscal buffers

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Riyadh: Saudi Arabia’s sovereign debt ranking was raised to A+ by Fitch Scores, which cited the nation’s efforts to diversify its financial system away from a reliance on oil gross sales and enormous reserves.

The improve displays the dominion’s “sturdy fiscal and exterior steadiness sheets” and “assumes ongoing dedication to gradual progress with fiscal, financial and governance reforms,” Fitch mentioned in a press release.

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