Saudi Arabia is launching an expansionary fiscal policy in 2018, with spending set to hit the highest level since 2014, in a bid to revive its sluggish economy. Despite running up consecutive multi-billion-dollar deficits since 2014, the kingdom still has relatively low levels of debt, and is prioritizing ending its recession over balancing the budget in the near term.
The budget has confirmed Saudi Arabia’s touted decision to postpone its plans to achieve fiscal balance by 2020, as originally announced in Crown Prince Muhammad’s Saudi Vision 2030 (MEES, 24 November). (CONTINUED - 1766 WORDS)
