Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.
**Written and disseminated to select contacts on March 25, 2020**
Saudi Arabia’s finances risk becoming seriously impaired if oil prices remain lower for longer, with the state budget and balance of payments deficits virtually unfinanceable at $30/b in 2020. The massive cuts to spending needed could lead to political and public discontent, especially at a time when progress on Vision 2030 goals is slow and unlikely to deliver on its economic objectives in the ambitious time frame.
Rachna Uppal | Senior Analyst Business & Finance | firstname.lastname@example.org