Arabic and International Monday, 22 January 2018 at 09:53 am (عدد المشاهدات 169)
Saudi Arabia is asking banks to finance a $ 10 billion loan
Follow-up / Sky Press:
Saudi Arabia has submitted a request to several international banks for huge loans worth US $ 10 billion, Reuters reported.
The agency said in an article published that the goal of Saudi Arabia's request of a $ 10 billion loan is to strengthen sovereign funds.
Saudi Arabia, the world's largest oil exporter, is currently suffering a sharp decline in its fiscal revenues, driven by a drop in crude oil prices from 2014.
Saudi Arabia announced an expanded budget for 2018 with a total expenditure of 978 billion riyals ($ 260.8 billion), up 10 percent from the 2017 estimate of 890 billion riyals ($ 237.3 billion).