Riyadh - Mubasher: Moody's Investors Service (Moody's) has affirmed Saudi Arabia's credit rating at 'A1', with a stable outlook, the Saudi Press Agency (SPA) reported.

Affirming the Kingdom's credit rating reflects the government's continued development of fiscal policy and ability to adapt to oil price fluctuations, reflecting a commitment to fiscal consolidation and longer-term fiscal sustainability.

The global rating agency has also expected that the Kingdown would continue recording a 5% growth in the real gross domestic product (GDP) from 2021 to 2023.

This growth is driven by further post-pandemic recovery, progress on economic diversification, capital and development projects, and a further unwinding of oil production cuts.