BUDGET blues
Saudi Arabia posts largest quarterly deficit since 2020
Signs of the widening fiscal gap have been evident for months, with the slowing down of NEOM and shelving of Riyadh's $50 billion Mukaab cube
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Oil income from state giant Saudi Aramco fell about 12% year on year to roughly $45 billion
Add The Circuit on GoogleSaudi Arabia posted its largest quarterly budget deficit since 2020 as lower oil revenue and spending by the government on NEOM and some of Crown Prince Mohammed bin Salman’s other ambitious projects widened its fiscal gap.
Signs of...
