Oil-rich Saudi projects budget deficit through 2027

By Agence France-Presse

Oct 02, 2024 12:18 am

RIYADH ― The Arab world's biggest economy, Saudi Arabia, announced on Monday it anticipates a budget deficit of 2.3 percent of gross domestic product (GDP) in 2025, projected to continue over the following two years.

The Gulf kingdom is engaged in a yearslong economic reform drive seeking to reduce its dependence on oil and boost its tourism and business sectors.

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