Saudi Arabia's 2027 Budget Forecasts Strong Recovery
Saudi Arabia's 2027 budget is expected to experience the most vigorous economic rebound with a high growth rate of up to 12.8% in real GDP, despite a 21.8% decline in oil activities this year. The Kingdom relies on diversifying its sources of income, with non-oil revenues increasing from 166 billion riyals in 2015 to 505 billion in 2025, now constituting 36% of expenditures. The budget maintains economic stability with inflation kept at 2.1% and unemployment reduced to 6.5%. It focuses on prudent management of the deficit, which is projected at 191 billion riyals, representing 3.6% of GDP, while bolstering financial reserves that cover external debt by approximately three times and developing infrastructure to enhance the Kingdom’s global logistics position.
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