S&P: Saudi Arabia Has the Capacity to Withstand the Impact of the Iran Conflict

Golden Ten Data reported on March 15 that S&P Global Ratings has affirmed Saudi Arabia's sovereign credit rating, adding that despite disruptions, the momentum of non-oil growth and related non-oil revenues should help support the economy. S&P stated that Saudi Arabia should be able to withstand the impact of the current Iran conflict. According to S&P, the country should be able to redirect oil exports to the Red Sea, leverage its vast oil storage capacity, and increase oil production after the conflict. The Saudi government should also be able to adjust investment expenditures related to the "Vision 2030" initiative, a strategic framework launched by the country in 2016.