News: Saudi Arabia's Breakeven Oil Price Is Increasing - What Will the Kingdom Do?
Wednesday, 4 September 2024, 22:14
Saudi Arabia’s fiscal deficit is growing due to large spending projects associated with Vision 2030. Recent reports indicate that the kingdom's fiscal breakeven oil price is escalating, presenting difficulties for policymakers. While the push for economic diversification continues, the reliance on oil revenues remains pivotal.
Fiscal Deficit Expansion
The ambitious Vision 2030 plan involves extensive investments in infrastructure and social services. However, the rising oil price necessary to balance the budget poses significant challenges.
Government Responses
- Potential policy adjustments
- Exploring new revenue streams
- Increased focus on non-oil sectors
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.