More public borrowings on cards | GulfNews.com:
"In order to bridge its fiscal deficit Saudi Arabia is expected to use a combination of revenues from assets held overseas, official reserves and market borrowings.
This year, the Kingdom tapped into its sizeable reserves. Reserves dropped to under $670 billion (Dh2.4 trillion) in July 2015 from $746 billion in August 2014. The Saudi government also resumed long-term debt issuances for the first time since 2007, with total issuances 95 billion riyals (Dh93 billion) so far. According to recent press reports, the government is planning issuance of local currency bonds worth 20 billion riyals.
The new issues will bring to 115 billion riyals the amount of bonds issued by the government to local banks this year. It resumed issuing bonds to banks in July for the first time since 2007 to cover a budget deficit created by low oil prices.
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