Saudi Arabia to raise around $31 bln in debt this year

      Published on Monday, 1 April , 2019      171 Views     
Saudi Arabia to raise around $31 bln in debt this year

  • Business

Saudi Arabia plans to issue 118 billion riyals ($31.5 billion) in debt this year to help finance the national budget deficit, the country’s Debt Management Office, part of the ministry of finance, said in a statement.



The kingdom – which issued $7.5 billion in international bonds in January



– said its foreign funding “would be positioned in a way in which (Saudi Arabia) could secure most of its funding in the first quarter”, to reduce exposure to market risks and to allow Saudi government-related issuers to tap the debt markets.

The statement comes a few days before Saudi Aramco, the state-owned oil giant, is expected to issue its first bonds in the international markets.

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Category Business | 2019/04/01 latest update at 11:00 PM
Source : Reuters | Photocredit : Google
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