Saudi Arabia’s Spending Spree Meets Oil Price Reality

Saudi Arabia’s grand Vision 2030 ambitions may be colliding with a colder fiscal reality. Fitch Ratings warned Friday that Riyadh faces rising financial risks as oil prices soften and government spending balloons, threatening the kingdom’s plans for fiscal consolidation. The numbers tell the story: Saudi Arabia now expects a budget deficit equal to 5.3% of GDP in 2025—nearly double its original 2.3% forecast—before narrowing to 3.3% in 2026. The deterioration comes largely from weaker oil income, Fitch said, with non-oil…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com