SAUDI ECONOMY

Saudi Arabia to Cut Spending, Deficit Projected to Widen as Economic Reforms Kick In

Mohammed Al-Jadaan
Saudi Arabia's finance minister Mohammed Al-Jadaan said in his pre-budget statement for fiscal year 2020 yesterday that the Kingdom would cut spending and widen its projected deficit in a vote of confidence in Saudi Arabia's economic reforms.

Saudi Arabia

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Government Spending

Saudi Arabia to Cut Spending as Private Sector Growth Picks Up

Spending is expected to fall from about 1.05 trillion riyals ($280 billion) this year to 1.02 trillion riyals in 2020, then to 955 billion riyals ...

 

2020 Budget

Saudi expects wider 2020 budget deficit of $50 billion – finance minister

Saudi Arabia expects its budget deficit to widen to 187 billion riyals ($49.86 billion), or 6.5% of gross domestic product (GDP), next year from a ...

 

Export Bank

Saudi Arabia launches export bank with a capital of $8 bln

Saudi Arabia launched an export bank with a capital of 30 billion riyals ($8 billion) on Thursday, the kingdom’s industry minister told Saudi state TV ...

 

Saudi Aramco IPO

Aramco IPO Waits on Crown Prince as Saudi Rich Pressed to Invest

Saudi Crown Prince Mohammed bin Salman will decide in the next two days whether there’s enough support from local investors to finally go ahead with ...

 

Economy

Saudi Arabia a ‘land of opportunities’ says commerce minister

Saudi Arabia is a land of opportunity with a great chance of attracting investment in new sectors of its economy, the minister of commerce and ...

 

FII Fashion

Foreign women shun abaya at Saudi conference

Alongside Saudis in traditional dress and foreign men in ties and suits, women from the ranks of business and policy-making are visiting Saudi Arabia at ...

 

General Sports Authority

There is a big appetite for change, says Saudi sports authority chief

The Kingdom had a high level of obesity and type 2 diabetes which were often directly linked to a lack of exercise, but more people ...

 

Entertainment

WWE Saudi Arabia Crown Jewel: Women’s wrestling debuts in Saudi Arabia – with limits

Dressed demurely in black leggings and unflattering baggy t-shirts, rather than their trademark low-cut bikini tops, WWE superstars Natalya and Lacey Evans starred in the ...

 

Humanitarian Aid

Saudi Arabia Provides $18 B Worth of Humanitarian Assistance to Help Refugees

Saudi Arabia confirmed that it has provided nearly $18 billion worth of humanitarian assistance to alleviate the sufferings of refugees who were displaced from their ...

 

Vision 2030

Talking About Her Generation: This Saudi Engineer Is Helping Her Country Reach Beyond Oil Into Manufacturing

But the kingdom, which relies on oil for 42% of its GDP and 90% of its export earnings, is learning to stop worrying and love ...

 

Saudi-UAE

Saudi, UAE working on joint visa for 2020 for visitors of both countries

The announcement was made by Sultan bin Saeed Al Mansoori, UAE Minister of Economy. He was quoted by Al Eqtisadiah newspaper as saying, "This initiative aims at ...

 

Saudi-India

India, Saudi Arabia to hold first joint naval drills in early March

The two sides are moving away from a purely buyer-seller relationship towards a closer strategic partnership, sources said. ...

 

Saudi-Iran

Tehran says Saudi Arabia frees 19 Iranian fishermen

Saudi Arabia has freed 19 Iranian fishermen detained 10 months ago by the kingdom’s coastguard, an Iranian official was quoted as saying on Thursday, following ...

 

Saudi +

Regional and related topics

ISIS

ISIS Confirms Baghdadi’s Death And Names His Successor

The Islamic State on Thursday confirmed the death of its founder and leader Abu Bakr al-Baghdadi and announced a successor. The propaganda arm of ISIS ...

 

Iraq

Iran intervenes to prevent ousting of Iraqi prime minister – sources

The protests have broken nearly two years of relative stability in Iraq. They have spread from Baghdad across the mainly Shi’ite south and met with ...

 

Iran in the Region

Hashd al-Shaabi and Hezbollah: Iran′s allies in Iraq and Lebanon

After initially backing the demonstrations, supporters of Iranian-linked Hezbollah have since bashed protester in Lebanon. Iraq's Popular Mobilization Units (PMU) or Hashd al-Shaabi, major factions ...

 

Syria

Bashar al-Assad says Syrian regime to take back all Kurdish held areas in new interview

yrian president Bashar al-Assad has said he will eventually reclaim all Kurdish-held areas of the country, spelling an end to the minority’s six-year self-rule. The Kurds ...

 

Iran Sanctions

U.S. imposes new Iran sanctions, but waives others

The decisions announced by the U.S. State Department reflect an effort to increase pressure on Iran by putting wider swaths of its economy under sanctions, ...

 

Yemen Civil War

Saudi-Brokered Deal Defuses Tensions in Yemen’s South, but Security Challenges Linger

The Saudi-brokered bargain, referred to as the Riyadh agreement, is a significant breakthrough that, if successful, will prevent the fragmentation of the country and avert ...

 

OPEC

OPEC October oil output jumps on swift Saudi recovery: Reuters survey

OPEC oil output has bounced in October from an eight-year low as a rapid recovery in Saudi Arabian production from attacks on oil plants more ...

 

War in Yemen

Yemen’s Houthis down U.S.-made drone near Saudi border: spokesman

Yemen’s Houthi movement said on Friday its air defenses downed a U.S.-made ScanEagle drone near the Saudi border, the group’s military spokesman said. ...

 

ISIS Women

Pay More Attention to the Women of ISIS

ISIS women residing in al-Hol and other camps are some of the group’s staunchest supporters. These are not rank-and-file “jihadi brides” who traveled to Syria ...

 

Lebanon

U.S. withholding $105 million in security aid for Lebanon – sources

The officials did not say why the aid was blocked. One of the sources said the State Department did not give Congress a reason for ...

 

Iraq

The humble three-wheeled tuk-tuk has become the symbol of Iraq’s uprising

New graffiti around Baghdad has crowned it “the tuk-tuk revolution.” A popular Iraqi singer, Hussam Alrassam, penned a patriotic ode to the protests and tuk-tuk ...

 

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