Reported 4 months ago
Saudi Arabia is increasing its bond issuance to help finance Crown Prince Mohammed bin Salman's ambitious projects aimed at transforming the economy. Despite a 10% increase in crude oil prices this year, the country is facing a fiscal squeeze and has issued $17 billion in international debt sales in 2024, more than any other emerging-market sovereign. The government has also increased its local debt sales, totaling $25.5 billion in riyal notes. Analysts anticipate further bond issuances by Saudi Arabia to meet its spending needs, as it strives to fund large-scale projects through borrowing amidst lower-than-ideal crude oil prices.
Source: YAHOO