Riyadh –  Saudi Arabia’s public debt increased by 12.1% to SAR 627.849 billion during the first half of 2019, compared to 559.980 billion at the end of 2018.

The kingdom’s domestic debt surged by SAE 39.744 billion to SAR 344.724 billion in the six-month period ended 30 June from SAR 304.98 billion on 31 December 2018, according to data released by the Ministry of Finance.

In addition, the GCC nation’s foreign debt rose by SAR 28.125 billion to SAR 283.125 billion in H1-19, compared to SAR 255 billion at the end of last year.

Saudi Arabia plans to issue debt instrument worth SAR 118 billion in 2019 in a bid to finance its budget deficit, the Ministry of Finance’s Debt Management Office announced.

During the second quarter of 2019, the kingdom’s public debt grew by SAR 17.201 billion, or 2.8%, quarter-on-quarter from SAR 610.648 billion.

Foreign debt stabilised at SAR 283.125 billion in Q2-19, while local debt rose to SAR 344.724 billion from SAR 327.523 billion in Q1-19.

Source: Mubasher

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