“Saudi Arabia’s 2021 budget is expansionary. We wanted to make sure that we stimulate the economy and support growth and diversification. It doesn’t need to be just through government expenditure.”
-Mohammed Al-Jadaan, Saudi Arabia’s Minister of Finance, discussing the Kingdom’s annual budget statement, released today for 2021. Saudi Arabia announced a 990 billion riyal ($263.91 billion) budget for 2021 on Tuesday, around 7% less than estimated spending for this year. [Bloomberg]
