Saudi's expansionary budget and postponed fiscal targets seen pro-growth.

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03-Jan-2018

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Saudi Arabia announced its largest ever budget spending for the year 2018 despite oil price still faring way below the booming year averages, signalling government’s eagerness to boost flagging growth figures.

The government has pushed its target of breaking even the budget from 2020 to 2023 and has earmarked to spending over 1 trillion Saudi riyals in the next four years after 2018. The spending is projected to increase from 1 trillion riyals in 2019 to 1.1 trillion riyals in 2022 while revenue has been projected to grow from 843 billion riyals in 2019 to 1.05 trillion riyals in 2022.

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