Sun, 2019-03-31 00:15
LONDON: Saudi Arabia’s expansionary budget is expected to boost economic growth in the Kingdom, according to S&P Global Ratings.
The ratings agency said it expects Saudi Arabia to reduce budgeted expenditure to achieve its goal of a balanced budget by 2023.
“Fiscal reforms are yielding results, with 2018 non-oil revenues increasing by approximately
35 percent over 2017,” S&P said in a report. “That said, we expect that any material economic benefit from the overall reform package will likely only materialize beyond our ratings horizon.”
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