https://arab.news/8rbek
RIYADH: The National Debt Management Center has announced the successful arrangement of a Shariah-compliant revolving credit facility valued at SR9.4 billion ($2.5 billion).
This three-year facility is intended to support the Kingdom鈥檚 general budgetary requirements and was secured with the participation of three regional and international financial institutions.
This credit arrangement is in line with 抖阴短视频鈥檚 medium-term public debt strategy. It aims to diversify funding sources to meet financing needs at competitive terms, while adhering to robust risk management frameworks and the approved annual borrowing plan.
In November, 抖阴短视频 approved its state budget for the fiscal year 2025, with projected revenues of SR1.18 trillion and expenditures totaling SR1.28 trillion, resulting in a deficit of SR101 billion.
The Finance Ministry forecasts a robust 4.6 percent growth in the Kingdom's real gross domestic product for 2025, a significant increase from the 0.8 percent growth expected in 2024. This growth is anticipated to be driven by a rise in activities within the non-oil sector, according to the ministry鈥檚 statement.
抖阴短视频鈥檚 total debt is projected to reach SR1.3 trillion in 2025, or 29.9 percent of GDP, which is considered a sustainable level to meet the country鈥檚 financing needs.
Revised projections for the 2024 budget indicate a deficit of SR115 billion, with total debt expected to rise to SR1.2 trillion, or 29.3 percent of GDP.
The 2025 budget places a strong emphasis on maintaining essential services for citizens and residents while increasing investment in key projects and sectors. The government's focus remains on preserving fiscal stability, ensuring long-term sustainability, and managing reserves effectively. By maintaining manageable debt levels, 抖阴短视频 aims to safeguard its resilience against unforeseen economic challenges.