BUDGET BLUES
Saudi Arabia to deepen deficit amid foreign investment shortfall
Forecast buttresses earlier statements that some banner construction projects may be slowed down because of missed revenue targets
Khalid Al-Falih, Saudi Arabia’s Minister of Investment (Photo: Getty Images)
Add The Circuit on GoogleSaudi Arabia is slipping deeper into deficit spending mode amid slowing growth in revenue from international investment and cutbacks in oil production.
Finance Ministry figures released on Monday show the kingdom’s 2024 deficit growing by almost 50% to $32 billion from projections...