Saudi's withdraw $ 70 B from its world investments to meet budget deficit 10/1
Saudi Arabia withdraw $ 70 billion from its investments around the world to meet its budget deficit
It revealed the agency "Bloomberg" of America, Thursday, for the establishment of Saudi Arabia to withdraw nearly $ 70 billion over the last six months of their investments all over the world, in its budget to meet the Agr.
The agency said in a report seen by Agency / information / "Saudi Arabia proceeded in the past six months to withdraw the range between 50 and 70 billion dollars of investments all over the world, in order to satisfy Agr in its budget."
The report added that "the enormous amount is a sign that the largest producer in the Organization of Petroleum Exporting Countries" OPEC "is struggling to find solutions to meet the growing budget deficit financial resources, as well as to cover the costs of the military campaign in Yemen."
Economists believe that oil prices remain at low levels pushing the Saudi oil revenues that make up about 90% of its revenues, to move towards its investments in global funds.
The International Monetary Fund predicted earlier that Saudi Arabia is a huge budget deficit recorded in 2015 may reach 20% of the size of the GDP of the Kingdom.
Saudi Arabia was headed to lending to finance by issuing bonds Gr budget, where Riyadh issued sovereign bonds worth $ 5.33 billion in the month of August.
The Saudi authorities predicted earlier, the decline in the budget by about $ 39 billion this year, but the World Bank and other institutions Monetary Fund believe that the actual deficit will be much larger, as the IMF predicts that the deficit up to $ 130 billion over the this year. Finished / 25 Q