Moody’s Upgrades Saudi Economy Growth Forecast

Saudi economy receives positive forecasts from the credit rating agencies for the current year. (Asharq Al-Awsat)

Global credit rating agency Moody’s has raised the Kingdom’s growth forecast to 2.5 percent for the current year from its last estimation of 1.7 percent, backed by moderate levels of debt and large financial reserves, in addition to its huge oil reserves.

For next year, it has elevated the expansion to 3.1 percent from the prior estimation of 2.6 percent.