Saudi Arabia's latest euro-denominated issue reflects confidence in national economy: Al-Jadaan

02/05/2021 Argaam

Mohammed Al-Jadaan, Saudi Minister of Finance

Finance Minister Mohammed Al-Jadaan said the latest euro-denominated issue had a negative rate, due to investor confidence in the national economy and the Kingdom's future plans.
 

"The negative rate means that they offer us 1.1 billion, and we return to them 1 billion after three years and 10 years," Al-Jadaan explained.
 

He added that nationals, as well as other countries and investors around the world believe in the Kingdom's Vision 2030.
 

During a dialog session held on the five-year passage of Saudi Vision 2030, the minister further said the Kingdom's latest debt issues witnessed strong appetite from investors although they had lower rates.
 

He added that the ratio of public debt to gross domestic product (GDP) ranges between 30% to 33%, which is considered a reasonable level. 

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