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HomeMiddle EastSaudi Arabia plans to borrow $10-15bn internationally in 2017

Saudi Arabia plans to borrow $10-15bn internationally in 2017

Saudi Arabia plans to borrow between $10 to $15 billion from international markets in 2017 and around 70 billion riyals from the domestic market, a senior Saudi official told Al Arabiya television channel.

Mohammad al-Tuwaijri, secretary-general of the Finance Committee at the Royal Court, was speaking to Al Arabiya in an interview aired on Friday.

The Saudi government borrowed $17.5 billion this year in its first international bond issue, and also raised a $10 billion international loan.

It offered about 20 billion riyals of domestic bonds to banks every month through September, before suspending those issues; finance minister Mohammed al-Jadaan told Reuters on Thursday that he expected to resume domestic bond issues in the first quarter of 2017.

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