Saudi Arabia forecasts borrowing nearly at USD12B this year| MENAFN.COM

Friday, 27 January 2023 08:00 GMT

Saudi Arabia forecasts borrowing nearly at USD12B this year


(MENAFN) Saudi Arabia believes its financing should be at nearly SR45 billion (USD12 billion) in 2023, the National Debt Management Center stated on Wednesday.

Finance Minister Abdullah Al-Jadaan accepted the 2023 yearly borrowing strategy and a local sukuk issuance calendar, the NDMC mentioned in an announcement.

The Kingdom collected around SR48 billion for this year financing requirements in pre-funding dealings last year, it also stated.

The center asserted that the nation targets to “continue its funding activities in the domestic and international markets with the objective of repaying debt principal that will mature during the year 2023 and during the medium-term.”

The NDMC is going to carry on to study extra investing action subject to market situations and via obtainable investing channels domestically or globally, the announcement also mentioned.

The sovereign debt portfolio jumped by nearly SR52 billion last year to reach SR990 billion, or 25 percent of gross domestic output, decreasing from 30 percent in 2021, but more than NDMC’s forecast a year ago of SR938 billion.

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