Riyadh - Mubasher: The Kingdom of Saudi Arabia announced the completion of arranging a revolving credit facility agreement worth $2.5 billion, equivalent to 9.4 billion Saudi riyals.

According to the National Debt Management Center in the Kingdom, these facilities aim to finance the needs of the state’s general budget, and will continue to be in effect for a period of three years .

The center explained in a statement that the credit facilities were secured with the participation of three regional and international financial institutions, stressing that this step comes within the Kingdom’s medium-term public debt strategy.

This strategy aims to diversify funding sources to meet the Kingdom’s financing needs at fair prices, taking into account well-studied risk management frameworks .

The centre pointed out that the facilities also fall within the approved annual borrowing plan, which aims to exploit opportunities in the markets to implement alternative government financing operations.

These operations contribute to enhancing the growth of the Saudi economy, including financing development and infrastructure projects .

In a related context, reports expected that the total Saudi public debt would rise to 1.3 trillion riyals ($346 billion) in 2025, which represents a slight increase from the total public debt estimates last year, which amounted to 1.2 trillion riyals. However, the Saudi public debt remains less than 30% of the gross domestic product .