Saudi Arabia’s economy experienced a growth of 2.7% year-on-year in the first quarter of 2025, according to preliminary estimates released by the government’s statistical authority. This growth was bolstered by increased activities in the non-oil sector as the kingdom continues its efforts to diversify its economy away from oil and gas reliance. The flash estimates...
Saudi Arabia’s Vision 2030 initiative has made significant strides, achieving 93 percent of its key performance indicators either fully or partially since its launch nine years ago, as reported in the latest official assessment. This assessment demonstrates the effectiveness of the program, which focuses on diversifying the economy, empowering citizens, and creating an appealing environment...
Moody’s Ratings has affirmed the United Arab Emirates’ Aa2 long-term local and foreign currency issuer ratings, indicating that the country’s economic outlook remains stable. The agency also confirmed the foreign currency senior unsecured debt and medium-term note program ratings at Aa2 and (P)Aa2, respectively. According to Moody’s, this affirmation reflects the expectation that the debt...
The Arab Investment and Export Credit Guarantee Corporation has reported that the Arab region’s GDP grew by 1.8% last year, reaching over $3.5 trillion. This growth comes despite ongoing wars and conflicts in the region, particularly the recent violent conflict in Gaza and other neighboring countries. While some economic indicators reflect positive progress, rising unemployment...
The United Arab Emirates (UAE) reported a significant economic expansion of 3.8 percent during the first nine months of 2023. This growth was largely driven by a vibrant non-oil sector, which now constitutes nearly 75 percent of the nation’s GDP, as announced by officials this week. This robust growth highlights the UAE’s ongoing efforts to...