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.