Fitch Ratings affirms Kuwait’s rating at AA- with stable outlook
The Central Bank of Kuwait (CBK) said on Friday that Fitch Ratings affirms Kuwait’s long-term sovereign rating at “AA-” with a stable outlook.
In a statement to KUNA, the bank said that the key points of Fitch’s report show that Kuwait’s credit rating reflects the country’s exceptional strength in its financial and external positions.
Regarding economic growth and inflation rates, Fitch projected the ongoing regional geopolitical instability to affect the local economic growth rate amid changes in oil production, it added.
Fitch expected that non-oil GDP would see positive growth, though at a slower pace, buoyed by government spending on infrastructure development projects, projecting a slight rise in the inflation rate during 2026 before dropping in 2027.
Concerning public debt, the agency anticipated an increase in the public debt-to-GDP ratio over the next three fiscal years (until the end of the 2028/2029 fiscal year), adding that debt levels would remain below the median of countries with an AA sovereign rating, which is around 51.5 percent of the projected GDP for 2028.
Pointing to foreign assets, Fitch Agency confirmed that Kuwait has an exceptionally strong external financial position, expecting the net sovereign foreign assets as a percentage of GDP to rise in 2026, which is more than 10 times the average of countries with an AA credit rating.
— KUNA
