this could be a seminal event and mark the first time for the Saudi
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timely and credible medium-term fiscal policy to
relative credit metrics and likely larger planned
and see oil prices of US$55-75/bbl over 2016-2020.
and we believe it intends to at least increase its
which is due to come online in 2016 and ramp up to 2.5 bcf/d by
develop local industrial capabilities and create jobs
we continue to prefer the consumer staples and the
BofA Merrill Lynch Global Research.*Market cap as % of MSCI EM represents and artificially constructed benchmark weight
ultimately driving earnings momentum and a market
Saudi would be 2.8% of the MSCI and could
(2) Saudi Arabia (according to local press and the
as well as increasing network density in developed and urban areas.
demand still lags global and regional averages (as indicated by data as a
Mobily and STC) will be key contributors to the financing of the