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FINANCIAL NEWS
Forecasts set Saudi deficit at 16 percent in 2015
01 Nov 2015
(MENAFN) Saudi Arabia’s credit rating was cut by Standard & Poor’s, mainly driven by the drop in oil prices which will further upsurge the budget deficit.
S&P stated that the largest OPEC producer’s deficit will grow to 16 percent of gross domestic product this year, plus the nation’s credit outlook is negative.
In particular, the prices decline will particularly hurt the kingdom considering the fact that the country depends on energy exports for 80 percent of its income.
‘The widening deficit and a high reliance on energy revenue point to weaknesses in kingdom’s public finances,’ said a money manager at Newfleet in Hartford, Connecticut.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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