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$100 Billion Anti-Corruption Settlement May Boost Saudi Budget: Fitch

Saudi Arabia’s receipt of over $100 billion settlements from the anti-corruption crackdown will likely boost state budget, 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 proceeds in off-budget funds to finance development project spending,” Fitch added.

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