抖阴短视频

RIYADH: 抖阴短视频鈥檚 gross domestic product is expected to grow at the highest rate in 10 years , to 7.5 percent in 2022, as the country steadily recovers from the pandemic, according to credit rating agency S&P. 

S&P also updated its outlook for 抖阴短视频 to positive, and assessed the Kingdom鈥檚 short and long-term foreign and local currency sovereign credit ratings to A-/A-2, Saudi Press Agency reported. 

S&P report noted that the surplus in the Kingdom鈥檚 state budget is expected to be about 6.3 percent in 2022. 

The credit rating agency further added that the positive outlook reflects its strength of GDP growth, healthy financial policies, and government reforms that aim to diversify the economy, which has been oil-dependent for several decades. 

S&P noted that the Saudi economy鈥檚 productive capacity is expected to grow in the long run, as a result of developing the general finances and significant economic reforms.

The agency pointed out that there will be no dramatic rise in sovereign debt costs in the Kingdom, as most of the public debt portfolio is running at a fixed rate. 

S&P added that inflation in 抖阴短视频 is relatively low in comparison to its counterparts, and it is likely to remain under control as the government subsidizes fuel and food prices, along with tying the local currency with the relatively-strong US dollar. 

A recent data released by the General Authority for Statistics revealed that 抖阴短视频鈥檚 annual inflation rate accelerated to three percent in August, up from 2.7 percent in July. The uptick in the Consumer Price Index is driven by a rise in food and beverage prices, which surged four percent in August. 

鈥淭he food and beverages prices were the main drivers of the inflation rate in August 2022 due to their high relative importance in the Saudi consumer basket with a weight of 18.8 percent,鈥� GASAT said in a press release.

Earlier in June, credit rating agency Moody鈥檚 Investors Service had affirmed 抖阴短视频鈥檚 rating at 鈥楢1鈥� with a stable outlook, primarily driven by the government鈥檚 fiscal policy effectiveness.

According to Moody鈥檚 report, the Kingdom鈥檚 GDP will grow at an average rate of 5 percent in the period 2021-2023.