Kuwait’s sovereign credit rating upgrade reflects positive momentum of structural, financial reforms

Minister of Electricity, Water and Renewable Energy, Minister of Finance and Acting Minister of State for Economic Affairs and Investment, Subaih Al-Mukhaizeem, stated “the upgrade of the sovereign credit rating reflects the positive momentum of the structural and financial reforms being implemented by the State of Kuwait.”

This statement was issued by Minister Al-Mukhaizeem today, following Standard & Poor’s announcement yesterday that it had raised Kuwait’s credit rating to AA- from A+ with a stable outlook after its periodic review this November, reports Al-Rai daily.

Minister Al-Mukhaizeem added that this progress confirms “Kuwait’s commitment to continuing to develop the economy and diversify its sources of income.”

He noted that “this rating enhances Kuwait’s ability to achieve sustainable development and long-term financial resilience.”

The agency stated in its report that “the stable outlook reflects our expectation that Kuwait’s domestic and external financial positions will remain very strong in the coming period.”

The report affirmed that Kuwait continues to implement financial and economic reforms within the framework of Kuwait Vision 2035, with the aim of strengthening the resilience of the local economy and the sustainability of the financial position.

The report also highlighted reforms supporting non-oil growth, emphasizing major capital projects, most notably the development of the northern economic zone, including Mubarak Al-Kabeer Port, energy projects, the expansion of Kuwait International Airport, as well as residential city projects, the Abdali Economic Zone, and logistics projects.