Saudi Arabia plans to issue SAR 120 bln bonds in 2019

22/12/2018 Argaam

 

Saudi Arabia intends to issue around SAR 120 billion ($32 billion) of bonds next year to help finance its deficit, Finance Minister Mohammed Al-Jadaan stold Bloomberg in an interview.

 

The kingdom is considering US dollar bonds and other currencies, with plans to tap international markets in the first half, he said.

 

The exact timing of the issuances will depend on market conditions, he added.

 

The recently revealed state budget for 2019 showed expectations for a deficit of SAR 131 billion, Argaam previously reported.

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