Credit rating agency Moody’s noted in its recent report that Saudi Arabia is expected to maintain non-oil sector growth between 4.5 percent and 5.5 percent annually over the next five to ten years.
The agency warned that rapid expansion in lending and the insurance sector could pose some challenges that banks and insurance companies need to manage.
Moody’s expects the government to continue spending on Vision 2030-related projects, with public debt likely to increase to around 36 percent of GDP, compared to about 26 percent at the end of 2024. The gradual shift toward greater private sector participation and broader public-private partnerships is expected to enhance sustainability and preserve the Kingdom’s creditworthiness.
Source (Al Arabiya.Net Website, Edited)
