Experts: rating Fitch confirms the superiority of Saudi Arabia on the major countries Saturday 7 Akhir 1435 AH - March 8, 2014 AD Riyadh is witnessing unprecedented economic growth London - Mohammad Ayesh Submitted to the agency Fitch on the other credit rating agencies and gave Saudi Arabia Category best Arab, approaching the highest levels of credit rating in the world, which, experts said, and analysts spoke of Arab. Net Its evidence of significant improvement witnessed by the Kingdoms economy during the period Last, with positive expectations regarding the coming period, and that evidence of superiority in the economic performance of the kingdom, including making them get a higher rating from Japan, China, Italy and a number of European countries. Announced and Fitch (Fitch) Global credit rating lifted to the extent sovereign rating for Saudi Arabia from (AA-) to (AA) with a stable outlook, which is the degree to which precede the classification Premier directly (AAA) and enjoyed by the few countries in the world, and lost the United States recently . The classification obtained by the Kingdom have surpassed many of the major economies, such as Japan, China, Italy and the majority of European countries, which are countries that do not have this degree of classification Alaútmaúa. He said economic analyst, and the head of Bakheet Investment Group humans Bakhit for Arab. Net The evaluation obtained by the Kingdom represents Trava on top in the credit rating, noting that there were only one degree of order to reach the (AAA), which means The Kingdom has one of the best credit ratings in the world, it also has a strong financial sheet and a strong economy. He predicted Bakhit to catch the rest of the institutions of the international credit rating agency Fitch The lifting of the credit rating of the Kingdom soon, due to expectations about the Saudi economy is excellent and there are no fears Taatari this economy. Regarding the new could be the motive behind the credit rating of the Kingdom says Bakhit that during the last few years there is a quantum leap surprise, but over the years it facing economic transformation gradually for the better, which prompted the agency to raise the credit rating of Saudi Arabia. He says Bakhit that the sovereign debt of the Kingdom is the only symbolic, and the economy does not need them, accounting for less than 5% of GDP, while there Kingdom has a cash reserve is huge, which means that the fulfillment of the obligations foregone conclusion and uncertain, which is paid to the belief that Fitch I studied many of the economic aspects before it reaches the lifting classification Kingdom. He says Bakhit said the economist in charge of monitoring the Saudi economy to the agency Fitch is Paul Jambol who had previously worked in the Kingdom for several years and watching its economic performance and financial statements for a long time, an expert in the Saudi economy, which made the Fitch ahead of the other raise the rating agencies in the Kingdom. The expert said Saudi economist speaking for Arab. Net, who requested anonymity, said that the lifting of the credit rating by the agency Fitch shows an improvement in performance over the last ten years, thanks to the success of the Saudi government in controlling the budget and management of oil stocks, and performance good on the debt. It was agreed that the expert referred to with Bakhit to have Fitch expert specializing in the Saudi economy for many years worked in the Kingdom for the World Bank, the International Monetary Fund, which made the Fitch better able than others to monitor the improvement in the economic performance of Saudi Arabia. The Saudi Minister of Finance, Dr. Ibrahim Al-Assaf, expressed his happiness with this high valuation issued by the agency prestigious international, which enhances confidence in the economy of the Saudi national, and confirms its durability, and highlights the power of credit characteristic of the kingdom, also said the governor of Saudi Arabian Monetary Agency, Dr. Fahad Al-Mubarak, the The new sovereign rating is the result of sound methodology followed by the Government of the Custodian of the Two Holy Mosques in the management of the economy and the financial affairs of the country.
Posted on: Sat, 08 Mar 2014 14:24:11 +0000
Trending Topics
Recently Viewed Topics
© 2015