We expect the Saudi government's expansionary budget will help boost economic growth. We forecast wider fiscal deficits, but expect Saudi Arabia will retain strong government and external balance sheets. We are affirming our 'A-/A-2' long- and short-term sovereign ratings on Saudi Arabia. The outlook remains stable. On March 29, 2019, S&P Global Ratings affirmed its 'A-/A-2' unsolicited long- and short-term foreign and local currency sovereign credit ratings on Saudi Arabia. The outlook is stable. The stable outlook reflects our expectation that Saudi Arabia will maintain a pace of moderate economic growth and retain strong government and external balance sheets over the next two years, despite wider fiscal deficits. We could raise the ratings if Saudi Arabia's economic growth prospects improve
