Saudi Arabia Projects a $21 Billion Deficit in 2024

Contributing sentiments towards policy:

57% : Despite the diversification drive, oil and petrochemicals are still critical, accounting for around 90% of the country's exports.
54% : Read: Saudi Oil Cuts Throw Last Year's Standout Economy Into Slow Lane Inflation and supply chain disruptions have dampened global growth and in response Saudi Arabia is "working to expand government spending that has a transformative effect, while maintaining fiscal sustainability in the medium and long-term," according to the preliminary budget statement.
50% : But the plans are hugely expensive, putting strain on government finances.
44% : (Bloomberg) -- Saudi Arabia has rewritten its budget forecast for next year, saying it expects a deficit instead of a surplus as it ramps up spending and tackles uncertainty in oil markets.
42% : A Slump in Saudi Arabia's Oil Revenue Has Probably Ended: Chart A recent rise in crude prices will give the world's biggest oil exporter more room to sustain high levels of government spending and drive the non-oil sector, the main engine of job creation.
38% : That could be a reflection of continued uncertainty over oil demand, with fears of a recession continuing to haunt the US and disappointing economic data from China.

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