Saudi Arabia to maintain current debt amount

Saudi public debt has increased in recent years with the decline in global oil export revenues.
A Saudi man counts banknotes at his jewelry shop at Tiba market in Riyadh, on Oct. 3, 2016.
A Saudi man counts banknotes at his jewelry shop at Tiba market in Riyadh, on Oct. 3, 2016. Since 2014, global oil prices have collapsed by more than half, leaving Saudi Arabia with a record deficit last year. - FAYEZ NURELDINE/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The Saudi government said yesterday that it will maintain its current amount of debt this year. 

Saudi public debt is “estimated” to remain at approximately 938 billion Saudi Arabian riyals ($250.1 billion) in 2022. The government will focus this year on refinancing around 43 billion riyals ($11.5 billion), the National Debt Management Center said in a statement. 

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