Saudi Arabia Projects a $21 Billion Deficit in 2024
- Saudi budget deficit is projected at 1.9% of GDP next year
- GDP growth estimated at 4.4%, supported by non-oil activities
Visitors looks out towards the city skyline from the skybridge of the Kingdom Center, in Riyadh, Saudi Arabia.
Photographer: Jeremy Suyker/BloombergThis article is for subscribers only.
Saudi Arabia has rewritten its budget forecast for next year, saying it expects a deficit instead of a surplus as it ramps up spending and tackles uncertainty in oil markets.
The Finance Ministry also revised its previous forecast of surpluses every year until 2025, now projecting deficits until at least 2026, according to a preliminary budget statement published Saturday.