Reported 1 day ago
Saudi Arabia has embarked on a significant borrowing initiative to finance its ambitious economic transformation under the Vision 2030 agenda. The nation recently secured a $7 billion Islamic loan and is planning to issue new dollar bonds, with estimated funding needs of around $37 billion for the year. The government's spending on projects, including hosting major global events and developing new cities, is expected to lead to ongoing budget deficits, necessitating increased borrowing despite a strong balance sheet.
Source: YAHOO