Breaking news

Fitch Ratings Affirms Saudi Arabia’s Credit Rating At A+ With Stable Outlook

by THEFUTURE.TEAM

Fitch Ratings has affirmed Saudi Arabia’s credit rating at A+ with a stable outlook, attributing this to the Kingdom’s strong fiscal and external balance sheets.

Saudi Arabia’s Credit Rating

Fitch highlighted Saudi Arabia’s robust government debt/GDP ratio and sovereign net foreign assets (SNFA), which are significantly stronger than the ‘A’ and ‘AA’ medians. The agency also emphasized Saudi Arabia’s fiscal buffers, including deposits and other public-sector assets.

While acknowledging improvements in oil dependence, governance indicators, and vulnerability to geopolitical risks, Fitch noted these remain relative weaknesses. The agency also praised the wide-reaching social and economic reforms under Vision 2030, which are helping diversify the Kingdom’s economy.

Fitch forecasts that Saudi Arabia’s SNFA will reach 63.7% of GDP in 2024-2025, well above the ‘A’ median of 8.7%. The agency noted that fiscal reforms aimed at reducing oil price volatility’s impact could further enhance the Kingdom’s rating. Fitch also expects strong growth in non-oil exports, particularly in the travel sector, which will contribute to reducing the services balance deficit.

Saudi Economy

Saudi Arabia’s economy grew by 1.3% in 2024, largely driven by a 4.3% rise in non-oil activities and a 2.6% increase in government activities, according to the General Authority for Statistics (GASTAT). However, the oil sector contracted by 4.5%.

In Q4 2024, real GDP growth surged to 4.4% year-on-year, the highest quarterly growth in two years. Non-oil activities led this growth, with a 4.6% rise, while the oil sector grew by 3.4%. Government activities increased by 2.2%.

The non-oil private sector showed strong growth in December, supported by domestic demand and a surge in exports, despite a slight moderation in overall growth. The Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) dropped to 58.4 in December from a 17-month high of 59 in November, signaling continued expansion.

Outlook and Inflation

Saudi Arabia has revised its GDP growth forecast for 2025 to 4.6%, down from 5.7%, with the 2026 forecast lowered to 3.5%. Inflation in 2024 remained between 1.5% and 2%, largely driven by rising housing rents, and is expected to stabilize at around 2% in the medium term, according to the IMF.

Cyprus Expected Working Life Reaches 39.5 Years, Above EU Average

by THEFUTURE.TEAM

People in Cyprus are expected to spend 39.5 years in the workforce, around two years longer than the European Union average of 37.5 years, according to the latest Eurostat data for 2025.

The figure places Cyprus among the EU countries with the longest expected working lives.

Cyprus Ranks Above EU Average

Only a handful of member states recorded higher figures than Cyprus. The Netherlands topped the ranking at 44 years, followed by Sweden at 43.4 years, Denmark at 42.6 years, and Estonia at 41.5 years.

At the other end of the ranking were Romania with 32.7 years, Italy with 33.0 years, Bulgaria with 34.6 years and Greece with 35.3 years.

Gender Gap Remains Wider Than EU Average

Men in Cyprus are expected to remain in work for 42.1 years, compared with 36.7 years for women. The gap of 5.4 years exceeds the EU average gender gap of 4.1 years.

Across the bloc, Lithuania, Latvia and Estonia were the only countries where women were expected to spend longer in employment than men. Finland recorded the smallest positive gender gap at 0.7 years.

Italy posted the widest gap at 8.9 years, followed by Romania at 6.9 years, Greece at 6.7 years and Malta at 6.3 years.

Working Lives Continue To Lengthen

Between 2016 and 2025, expected working life in Cyprus increased by 3.5 years, placing the country among the strongest performers in the EU over the period. Men’s expected working life rose by 3.3 years, while women’s increased by 3.6 years.

Across the EU, every member state recorded an increase. Malta posted the largest gain at 4.9 years, followed by Hungary and Ireland at 4.2 years each, and the Netherlands at 4.1 years.

Malta’s increase was driven largely by women, whose expected working life rose by 7.8 years, the biggest increase recorded across the bloc.

By comparison, Romania, Spain, Italy, Germany and Austria recorded gains of two years or less over the same period.

Women’s Working Lives Increase Faster Across Europe

Women’s expected working life increased faster than men’s in most EU countries. Denmark, Romania, Sweden and Greece were the main exceptions.

In Cyprus, gains for men and women were broadly similar, alongside Bulgaria, Belgium and Slovenia.

Aretilaw firm
eCredo
The Future Forbes Realty Global Properties
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter