Saudi Arabia has lowered its growth forecast and expects to post a budget deficit this year rather than an earlier projected surplus, a preliminary budget statement showed on Saturday.

Saudi Arabia has lowered its growth forecast and expects to post a budget deficit this year rather than an earlier projected surplus, a preliminary budget statement showed on Saturday.

The largest Arab economy expects real gross domestic product to grow by 0.03% this year, the document released by the ministry of finance showed, compared with a previous forecast for growth of 3.1%.

The document projected a budget deficit of 2% of GDP, compared with an earlier projection for a 0.4% surplus.

  • zoe @infosec.pubEnglish
    0·
    1 year ago

    lets see how this would pan out. also europeans didn’t make their ariane rockets as profitable as spacex did, and never achieved booster vertical landing. Spacex has a record of delivering on their promises, so they kinda should be taken seriously.