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Rebound in the cards
Analysts are expecting the economy to have closed 2023 in recession
Fitch sees rising private borrowing, strong year ahead for non-oil businesses in the Gulf
State-led initiatives + stronger infrastructure for tourism and other priority sectors will help drive non-oil growth
A peek at the 2024 debt picture
The debt portfolio’s average time to maturity (ATM) is currently at 9.5 years
Consumer price growth cooled in December 2023 to lowest rate in more than a year
Inflation came in a 2.3% on average in 2023
Purchasing manager’s index stable in December as private sector continues to grow
New orders rose to 68.3 in December, the highest rate since June
Some projects could miss 2030 deadline as gov’t aims to balance inflation, import bill, and domestic debt market
Some projects will be delayed to 2033, while others will be extended to 2035 and beyond
Mega projects, non-oil private-sector growth are hallmarks of 2024 state budget
The gov’t is targeting a deficit of 1.9% of GDP as it supports spending
FinMin unveils 2024 state budget + No word yet on MBC’s Tadawul IPO pricing
Good morning, friends. We’ve made it through another workweek together. We hope you’re looking forward to the weekend as much…
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