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Moody's: Saudi Arabia fiscal position weakening, but still strong

Discussion in 'Market News' started by ForexLive, Nov 2, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Oil prices making an impact On Friday, S&P downgraded credit rating and citing a pronounced negative swing in the fiscal balance sheet. Today, Moody's said that the Saudi government has cut back on expenditures, and that without such budget cuts and/or non-oil revenue increases, the Kingdom's creditworthiness will be affected. The rating agency added that volatile oil prices continue to when the government's balance sheet and that they see a deficit of 17% of GDP.

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