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2024

Saudi Arabia Braces for Wider Budget Deficit as Economic Reforms Accelerate

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Saudi Arabia has revised its fiscal outlook for 2024, projecting a larger budget deficit than initially anticipated. The Ministry of Finance now expects a shortfall of SAR118 billion ($31.47 billion), equivalent to 2.9% of GDP. This figure surpasses the SAR79 billion ($21.07 billion) deficit forecasted in December 2023. The kingdom has adjusted its revenue projections […]