Saudi Edition 
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Moody’s upgrades Saudi Arabia’s sovereign credit rating to Aa3
The Kingdom’s rating is now on par with Hong Kong and Belgium
Moody’s sees Saudi economy growing at 1.7% this year and 4.7% in 2025
Government-backed diversification initiatives are expected to be the main driver for growth next year
Oil production restarts + megaprojects to drive more growth in 2025 -IIF
The Saudi economy has so far been insulated from surrounding geopolitical turmoil
Inflation registers a record high this year at 1.9% y-o-y in October
House rental prices rose 11.6% y-o-y last month
Saudi Arabia’s PMI hits a high in October
Selling prices have risen for the first time since June
Saudi Arabia records budget deficit in 3Q 2024
Total expenditure for 3Q 2024 rose 15% y-o-y to SAR 339.4 bn
IMF lowers MENA growth forecast amid regional conflicts and oil cuts
The IMF revised its growth forecast for the region downward to 2.1% this year, and 4% in 2025
GDP rebounds after four-month rut
Non-oil activity led growth at 4.2%
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