saudi arabia raises 125bn in new bond sale
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Saudi Arabia raises $12.5bn in new bond sale

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSaudi Arabia raises $12.5bn in new bond sale

Last year it raised $17.5 billion in its first global bond issue — the largest ever by a single country
Riyadh - Muslimchronicle

Saudi Arabia on Thursday announced it had undertaken another multibillion-dollar bond sale to finance a persistent budget deficit left by low oil prices.
The world’s top crude oil exporter raised $12.5 billion in its third international bond issue, the Finance Ministry said.
It comes as Saudi Arabia pursues economic and social reforms including this week’s announcement that it will end a ban on women driving.
The Kingdom has already undertaken three “sukuk” Islamic bond issues this year — including one international sale — totalling around $15 billion.
Last year it raised $17.5 billion in its first global bond issue — the largest ever by a single country. Previously it had sold domestic bonds.
The latest issue was heavily oversubscribed with orders worth $40 billion, according to the Finance Ministry.
A slump in global oil prices resulted in massive budget shortfalls in 2014.
Saudi Arabia has posted a budget deficit in each of the past three years and is headed for a fourth year in the red in 2017.
The Kingdom’s deficit topped $200 billion from 2014 to 2016, and it is forecast to post a $53 billion shortfall this year.
Riyadh has also withdrawn more than $230 billion from its fiscal reserves since the end of 2014 to finance the budget deficit. Its reserves now stand at just over $490 billion.
Economic growth in Saudi Arabia is expected to hit just 0.1 percent this year, the weakest since 2009, according to the International Monetary Fund.
The Kingdom is due to introduce its first value-added tax (VAT) in early 2018 and is preparing to sell just under five percent of energy giant Aramco next year.

Source:Arabnews

 

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi arabia raises 125bn in new bond sale saudi arabia raises 125bn in new bond sale

 



Themuslimchronicle, themuslimchronicle

GMT 12:04 2017 Wednesday ,27 September

Thomas Cook sees tourists return to Turkey and Egypt

GMT 20:15 2017 Friday ,17 March

Attack On Aid Convoy in South Sudan Kills Two

GMT 17:32 2017 Friday ,15 September

At least 33 dead in Nigeria boat capsize

GMT 17:23 2013 Friday ,24 May

Woolwich: Terrorism or political murder?

GMT 17:52 2017 Tuesday ,18 April

Meningitis kills 10 more people in NW Nigeria

GMT 18:08 2017 Tuesday ,17 October

Norway solar firm signs 2.5 bn-euro deal with Iran

GMT 07:43 2018 Monday ,22 January

Macron boosts Merkel ahead of key coalition vote

GMT 05:32 2016 Monday ,18 April

Australian dollar falls amid oil talk breakdown

GMT 04:45 2016 Thursday ,15 December

UAE Ambassador and Chilean Energy Minister discuss

GMT 15:34 2011 Saturday ,19 November

Williams to resume sibling rivalry in exhibition

GMT 13:03 2017 Tuesday ,14 March

Snoop Dogg shoots at Trump in new video

GMT 09:37 2016 Monday ,19 September

Southeast Asian haze crisis killed over 100,000

GMT 08:27 2015 Monday ,19 October

Patriots down Colts in 'Deflategate' rematch

GMT 16:36 2017 Tuesday ,12 September

Quarter of houses in Florida Keys destroyed

GMT 21:22 2016 Thursday ,23 June

Poll: Israelis even on Clinton vs. Trump
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle