Saudi Arabia's Ambitious $37 Billion Borrowing Initiative to Fund Major Development Projects
4 months ago
Saudi Arabia is embarking on a significant financial maneuver, planning to raise up to $37 billion through borrowing to finance an array of large-scale projects that are set to reshape the kingdom's economy and infrastructure. This strategic move comes amidst the nation's ongoing efforts to diversify its economy away from oil dependency, aligning with its Vision 2030 initiative aimed at fostering sustainable growth.
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Saudi Arabia Announces Spending Cuts Amid Declining Oil Revenues
7 months ago
In what is arguably a major shift in fiscal policy, Saudi Arabia announced spending cuts on Sunday as a reaction to the tumbling oil revenues. This forces the kingdom to dial back its ambitious projects to stimulate the economy and develop it amidst fluctuating oil prices.
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