Saudi Arabia completes arrangement to secure $2.5bn credit facility

CAIRO: Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the National Debt Management Center (NDMC) said on Thursday.

The credit facility, which spans a tenure of three years, is aimed at financing the general budgetary needs, and was secured with the participation of three regional and international financial institutions, NDMC added in a statement.

Saudi Arabia’s GDP grows by 2.8% in third quarter

The kingdom’s total public debt is projected to reach 1.3 trillion riyals ($346 billion) in 2025, slightly higher than an estimated 1.2 trillion riyals in 2024, staying just below 30% of GDP.