Al-Jadaan ratifies borrowing plan for 2024

Minister of Finance Mohammed Al-Jadaan ratified the Kingdom's annual borrowing plan for the year 2024, after it was approved by the National Debt Management Center (NDMC) board in its latest meeting.

According to NDMC statement, the plan includes the key developments in public debt and debt market initiatives for the year 2023, the financing plan for the year 2024 and its guidelines, as well as the 2024 calendar for sukuk issuances within the Kingdom’s SAR-denominated sukuk program.

The plan also expects financing needs for the year 2024 to near SAR 86 billion, including the repayment of principal dues for the year, in addition to covering the expected deficit in the state budget for 2024, and the debt portfolio to reach about SAR 1.115 trillion by the end of 2024.

Furthermore, it entails fulfilling the Kingdom’s financing needs through local and international financing operations, with the aim of covering the expected deficit in the 2024 budget, and repaying the principal due in 2024 and in the medium term.