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BRIEF-Moody's says Saudi Arabia's fiscal position remains strong, but high oil dependency is key credit challenge
March 31, 2017 / 6:43 AM / 5 months ago

BRIEF-Moody's says Saudi Arabia's fiscal position remains strong, but high oil dependency is key credit challenge

March 31 (Reuters) -

* Moody's: Saudi Arabia's fiscal position remains strong, but high oil dependency is key credit challenge

* Moody's on Saudi Arabia - while government has announced ambitious and comprehensive reform plans, expects implementation of reforms to be challenging

* Moody's on Saudi Arabia - stable outlook reflects Moody's view that risks to Saudi Arabia's credit profile are broadly balanced

* Moody's on Saudi Arabia - anticipates a mild real gdp contraction of 0.2% in 2017 due to lower oil production

* Moody's on Saudi Arabia - forecasts a sizeable budget deficit of 10.5% of GDP in 2017, narrowing to 9.2% in 2018

* Moody's on Saudi Arabia - over medium-term, forecasts government's revenue sources will become diversified, with oil and gas revenue declining to 54% by 2020.

* Moody's - A1 rating,outlook supported by strong fiscal position, Saudi Arabia's large oil and gas reserves at low production costs, high levels of external liquidity Source text - bit.ly/2oFBXHy (Bengaluru Newsroom)

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