Saudi Arabia’s credit profile to reach USD 500bn

08 Mar 2016

(MENAFN) Saudi Arabian Monetary Agency’s (SAMA) reserves are estimated to touch USD 500bn by the end of this year, compared to USD 598bn in Jan 2016.

Furthermore, the kingdom will run a budget deficit of USD 107.12bn, a recent account deficit of USD 72bn and whole debt issuance of USD 31.97bn.

Additionally, it expects a similar continuation of this strategy in 2017 with a possible for the government to tilt more toward debt issuance.

The government will continue its monthly USD 5.3bn series of development bond issuance to local banks and other public institutions.

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