Financial surplus expected in Saudi budget to reorder financing needs: official

Hani AlMedaini, CEO of the National Debt Management Center (NDMC)

The financial surplus expected in Saudi Arabia’s budget amid the significant improvement in oil prices will be reflected on financing need expectations, Hani AlMedaini, CEO of the National Debt Management Center (NDMC), told Asharq TV.

“In early 2022, we expected focus to be on refinancing. We executed some transactions in the fourth quarter of 2021 and the first quarter of 2022, as this is the main focus in the current period,” AlMedaini said.
 

“Interest rates led us to adopt the “tactical entry” approach to debt and refinancing markets. This will be a stronger driver for us to adopt proactive finance. We have recently focused on that,” he added.
 

The top official added that the Saudi government aims to tap these markets as sovereign finance. Some sustainable finance transactions were executed in the public and private sector. Saudi Arabia has made an enormous stride in this regard, and appointed advisers to help it shape the sustainable finance framework.