Saudi Arabia’s Jump in Debt Exceeds Even Era of Negative Oil
Oil prices have slumped around 20% since the end of March.
Photographer: Simon Dawson/BloombergSaudi Arabia’s debt levels jumped the most on record in the first quarter after the government revealed more borrowing in the private markets.
The country’s net indebtedness rose by about $30 billion, according to a statement from the Ministry of Finance. That’s even more than at the height of the coronavirus pandemic in 2020, when oil prices briefly turned negative.