Oil-rich Saudi projects budget deficit through 2027 despite reform drive

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RIYADH, Oct 1 — The Arab world’s biggest economy Saudi Arabia announced yesterday it anticipates a budget deficit of 2.3...

Under Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler, Saudi Arabia has invested hundreds of billions of dollars in mega-projects like the planned futuristic desert city NEOM and major tourism and leisure developments.

It currently produces around nine million barrels per day, well below its declared capacity of 12 million bpd.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaSaudi ArabiaSingapore

Topics: Budget deficit Oil and gas revenue

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-01 @ 10:43:23 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 345 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 22827903

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