Fiscal and Security Concerns Weigh on Saudi

Jan Friederich, Head of Middle East and African Sovereign Ratings, Fitch Ratings

04-Oct-19 07:30

Fiscal and Security Concerns Weigh on Saudi

Pause
Embed

Saudi Arabia’s credit rating has been downgraded by Fitch Ratings. This comes on the back of recent news of the attack on Aramco facilities last month. While, Fitch noted that Aramco recovered from the attack quickly, it says: there is a risk of further attacks, which could result in economic damage. Apart from the attack, the ratings agency cited Saudi Arabia’s “continued fiscal deficits.” The deficit stems from increased state spending and lower average oil prices and oil production. We speak to Jan Friederich, Head of Middle East and African Sovereign Ratings at Fitch Ratings on this matter.

Presented by: Khoo Hsu Chuang, Sharidz Abdullah, Roshan Kanesan

This and more than 60,000 other podcasts in your hand. Download the all new BFM mobile app.

Categories: Trends and Forecasts, Markets, Investments

Tags: Saudi Arabia, oil, credit rating, Aramco,

Today’s Shows

11:00 AM

Best of Enterprise

(REPEAT) Alexandre Salesse, Partner at BCG, explains how the "Single Buyer" model and "Take or Pay" contracts have created a reliability gold standard at the cost of future flexibility.

12:00 PM

Just For Kicks

(REPEAT) The pundits look ahead to match week 27 of the EPL, featuring the big match between the wounded Arsenal against their neighbours in turmoil, Tottenham Hotspur.

1:00 PM

A Bit of Culture

(REPEAT) Does good always triumph over evil? Kam, Sheryll and Dhanya will unpack that, as well as talk about AI caricatures and whether it's cool to show off your partner on social media.

2:00 PM

Ringgit & Sense

(REPEAT) Dr. Mohaini Ahmad Basri, licensed financial planner with Wealth Vantage Advisory talks about EPF dividends, and who gets the most benefit from them.

2:30 PM

The Property Show

(REPEAT) Dr. YM Cheng, Founder and Principal Consultant of ChineseZodiacFengshui.com, discusses Fengshui outlook for Commercial and Residential properties for the upcoming Year of the Horse.

3:00 PM

Best of The Bigger Picture

(REPEAT) With TB cases on the rise and clusters reported across the country, we speak to a respiratory physician to break down what you need to know about the disease and precautions to take.

4:00 PM

Best of Evening Edition

(REPEAT) We speak to Balan, founder of a lion dance troupe and seasoned performer, about his journey to becoming part of this art form and what led to his passion for it.

5:00 PM

BBC World Service

This episode of The Life Scientific features Caroline Smith, Head of Collections and Principal Curator of Meteorites at the Natural History Museum, home to one of the finest meteorite collections in the world.

PROGRAMMES