We examined the role of phonemic awareness [PA], rapid naming [RAN], and verbal short-term memory [VSTM], phonological verbal fluency (PVF) along with literacy related skills (letter naming and orthographic knowledge) in reading, spelling, and numeracy performances. The study was carried out on a sample that consists of 245 native Arabic children of grade 1 and 2. The results showed a significant effect of Group on PA, RAN, VSTM, PVF, and letter naming and orthographic knowledge. There is also a comorbidity effect on PA and orthographic knowledge. The regression analysis indicated that PA and orthographic knowledge are the strongest predictors of the three academic outcomes, whereas VSTM, PVF and RAN displayed less predictive relationships with reading, spelling and numeracy. The results suggest that there are a number of underpinning factors that are linked to PA and orthographic knowledge, which are also accounted for a comorbidity condition between literacy and numeracy.