14 Jan 2012
(MENAFN) Moody’s investor service said that in the current year, Saudi would be able to reduce its debt to about 8 percent of gross domestic product (GDP), reported Emirates 24/7.
The agency added that the reduction would result from strong oil output accompanied with higher crude prices that would increase the country’s foreign assets at the end of the year.
It also said that GDP growth would rise by around 6.5 percent, due to a rise in spending, whereas inflation might go up to 6 percent, recording one of its highest levels.
It is worth noting that Saudi’s net foreign assets will be forecasted to reach 95 percent of GDP at the end of 2011, with debt levels falling to around 8 percent of GDP.
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more