‎“JPMorgan” upgrades Saudi Arabia’s rating to overweight from ‎neutral

On Friday, JP Morgan raised Saudi Arabia’s rating to overweight from neutral, due to factors such as excellent oil prices and the strength of the dollar.

JP Morgan intends to allocate its own budget to overweight China, along with Saudi Arabia and India, given the attractive growth momentum in China, low investor positions, and positive evaluations.

Yesterday, Faisal Al-Ibrahim, Minister of Economy, expected GDP growth in 2024, at a rate of between 4-5%.