Saudi Arabia Boosted Logistics Spending to Blunt Impact of War

Saudi Arabia brought forward some planned spending on infrastructure and food imports to soften the impact of the Iran war and the closure of the Strait of Hormuz, a move that added to its budget deficit in the first quarter.

The kingdom accelerated investments in transport and logistics, including in capacity at western seaports on the Red Sea, according to a spokesperson for the finance ministry. That helped improved supply chains for Saudi Arabia and other Gulf Cooperation Council countries, said the person, who asked to not to be identified in line with the ministry’s protocols.