Saudi Arabia: Spending its way to higher growth
- Saudi Arabia’s 2019 budget projects record spending, reaffirming the government’s policy of growth through fiscal expansion.
- Despite diversifying sources of revenue (taxes, visa fees), the kingdom continues to rely on oil for 68% of its income.
- Spending on the military is set lower than last year, but it is still larger as a percentage of total expenditure than that of China, the US and Russia.
Florence Eid-Oakden, Ph.D, Chief Economist
Charlene Rahall, Analyst
The Country Views series shines the spotlight on specific developments in MENA countries, analysing them from a local perspective to deliver forward looking views for businesses and investors.
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