Estimated loan amount for the upcoming fiscal year: $25 billion
For the upcoming fiscal year, the government has projected that it will borrow $25 billion to stabilize the nation’s economy.
Friendly nations including Saudi Arabia, China, and the United Arab Emirates will roll over $12 billion, according to Ministry of Finance sources. The project is expected to cost $4.6 billion to finance in the upcoming fiscal year. The Saudi oil facility and other late payments are believed to be worth $2 billion.
Sources in the Ministry of Finance say that financing for the project is estimated at $4.6 billion in the next fiscal year, and $3.2 billion of Chinese commercial loans will be refinanced.
Sources say that there is an intention to obtain a new commercial loan of $1 billion from China, a $2 billion installment from the IMF is also included in the plan, and an estimated $2 billion has been allocated for the Saudi oil facility and others on late payments.
The Ministry of Finance will be in charge of paying out installments from the IMF, while the State Bank will be in charge of rolling over the UAE Safe Deposit.
Approximately $19.5 billion to $20 billion will be obtained by the Economic Affairs Division.
