Saudi Arabia

Fitch: Saudi Arabia’s Budget Could Benefit from $100 Billion Anti-Corruption Settlement

Saudi Arabia’s receipt of over $100 billion in settlements from the anti-corruption crackdown will likely boost state budgets, Fitch Ratings said in a report.

The full impact will depend, however, on the composition of assets seized, their end-use, and the impact on the general investment climate.

Such settlements, if cashed in, would help curb the drawdown of government deposits at Saudi Arabian Monetary Authority (SAMA) and reduce the need for borrowing in 2018.

“However, we think the government may also choose to place a portion of the proceeds in off-budget funds to finance development project spending,” Fitch added.

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