Saudi Arabia mulls non-USD international bonds, says Al-Jadaan

Saudi Arabia is currently studying the feasibility to issue non US-denominated international bonds, Al-Arabiya reported on Tuesday, citing the Minister of Finance Mohammed Al-Jadaan.

“In 2018, the Saudi treasury department received over $100 billion (SAR 50 billion) from anti-corruption settlements,” Al-Jaadan said during a press conference held by the ministry.

“The Kingdom will continue to collect settlement payments next year,” he noted.

“The Saudi gross domestic product (GDP) is expected to grow by 2.3 percent in 2018, versus a negative growth of 0.9 percent a year earlier,” Al-Jaadan further added. 

Meanwhile, Al-Jadaan confirmed there will be no change in expat levies at present, adding that fuel prices are reviewed regularly, but there is no intention to hike other energy prices in 2019.

There are also upcoming giant investments and various projects that are obtaining licenses in the Kingdom. 

“Saudi Arabia targets strategic investments that raise the level of employment among Saudi citizens,” Al-Jadaan said.