The raw materials crisis has now reached the rich OPEC countries, DWN reported.
Thus, Saudi Arabia has to take corresponding financial measures to counteract the fall in oil prices and ensure the liquidity of its state budget.
According to the newspaper, the country is planning to issue government bonds of a total volume of 27 billion dollars by the end of the year. The maturities of the bonds will be five, seven and ten years.
In July 2015, Saudi Arabia already issued its first bonds since 2007. The measure is expected to cover a budget deficit caused by the significant drop in oil prices.
To avoid budget deficits, most OPEC countries need an oil price of over $100 per barrel or higher. However, the price per barrel has remained below the 50-dollar mark for quite some period of time.
