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The price of oil can go much lower - Finance Minister of Saudi Arabia plans to 5 times longer to issue bonds to cover the budget deficit in 2015 PDF Print E-mail
Monday, 07 September 2015 17:13
During the visit, the King of Saudi Arabia to the United States a few days ago the Minister of Finance of Saudi Arabia said that to cover large public deficit that has emerged due to the decline in oil prices in 2014-2015, the Central Bank of Saudi Arabia is planning to release the end of 2015 and not to place bonds for 27 billion dollars, and almost 5 times more - to $ 130 billion, as foreign exchange reserves of Saudi Arabia in September 2015 dropped to the level of 2011. Earlier, the Central Bank of Saudi Arabia this year made the first 2007 issue of state bonds for $ 4 billion. Thus, clearly the Saudi authorities are not going to help the oil price rise and not rely on further funding of its budget due to high oil prices, so it is possible that they are further going to increase oil production and build a bond issue to finance the deficit of its budget, to remove from the market oil producers with higher production costs, which is why the oil price may go far below the current figures:

НАЖМИТЕ ЗДЕСЬ ДЛЯ ПРОСМОТРА ВСЕГО СПИСКА НОВОСТЕЙ О НЕОБЫЧНЫХ ЯВЛЕНИЯХ>>>

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