S&P Global Ratings affirmed Saudi Arabia's long-term sovereign credit rating at 'A+' with a stable outlook, and expects real GDP to contract 0.9% in 2026 before growing 8.2% in 2027, followed by average growth of 3.3% in 2028 and 2029. The agency put non-oil activities including government at around 70% of GDP, up from 65% in 2018.
When a rating agency keeps an A+ rating but also predicts a 0.9% economic contraction, it shows that the analysts are focusing on the 70% of the economy that is not tied to oil and are prepared to be patient.
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Fifty days and 6,681 riyals
Saudi Arabia's Musanad platform reported that in H1 2026 the average domestic worker recruitment period was 50 days, at an average cost of SAR 6,681, with the service running across 39 countries. The platform handled more than 122,000 service transfer requests and more than 450,000 insurance contracts, working with approximately 6,164 approved external offices, and expanded wage payment channels to 16 digital options.
The state has made this market measurable, with transfers exceeding 122,000. Focus on preparing for customer transitions rather than prioritizing first-time recruitment.
The insurance market doubled
Saudi Arabia's insurance market reached SR84 billion in 2025, up from SR42 billion in 2021, effectively doubling in four years. Health and motor insurance accounted for 89% of premium growth, with health insurance alone contributing to 68% of that increase. Growth is decelerating sharply: 26.9% in 2022, 22.7% in 2023, 16.3% in 2024, 10.7% in 2025.
The market doubled in four years while its growth rate halved twice, from 26.9% to 10.7%, as the sector moves from expansion into maturity, where the next phase competes on retention rather than acquisition.
PIF's $2.4 billion half
Lucid announced $1.4 billion in identified cost cut as H1 2026 losses widened 50% to $2.4 billion from $1.6 billion a year earlier. H1 production was 10,274 vehicles against a full-year target of 25,000–27,000. Shares fell 9% after the announcement.
The second half now needs to roughly double the first, and $1.4 billion in cuts does not close a $2.4 billion gap on its own, production is the real test here, not the balance sheet.
