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NCBC Strategy: NCB Capital Retail Investors Survey Results - September 2020

The Ministry of Finance (MoF) issued its preliminary statement for the budget of 2021f. The fiscal deficit for 2020f is estimated to be SAR298bn (12% of GDP) higher than the initial target of SAR131bn (6.4% of GDP), which was planned before COVID-19. For the subsequent years, the government's fiscal policy objective remains unchanged and aims to reach a fiscal balance by 2023f-24f. Real GDP is projected to decline by -3.8% in 2020f, followed by a strong recovery of 3.2% in 2021f. Debt to GDP is projected to be in the range of 32%-33% during 2021-2023f, well below the revised debt ceiling target of 50%.

Published Date
07/10/2020
Sector
Market
Company
Market
Research Type
Strategy & Thematic Reports
Analyst
NCBC Research
PGS
6
Currency
Saudi Riyal
Period
Content Tags
Target Price

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