Riyadh, January 17, 2026, SPA — Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with Stable Outlook.
The affirmation reflects the Kingdom’s strong fiscal and external balance sheets, with government debt-to-GDP and sovereign net foreign assets (SNFA)considerably stronger than the medians for both the ‘A’ and ‘AA’ rating categories, alongside substantial fiscal buffers in the form of deposits and other public sector assets.
Fitch projects that GDP growth will reach 4.8% in 2026, while the fiscal deficit is expected to narrow to 3.6% of GDP by 2027. Furthermore, non-oil revenues will continue to benefit from buoyant economic activity and improved collection techniques.
Fitch also highlighted that reform momentum remains strong, with recent steps including a new investment law and the further opening of real estate and stock markets to foreign investors.