The Saudi budget is expected to support local gross domestic product (GDP) growth to exceed 2% by 2021, according to S&P Global Ratings. The ratings agency stated that growth will rely mainly on oil prices volatility, and the global and regional geopolitical and economic instability.
In other news, Saudi Arabia’s Foreign Minister Faisal bin Farhan told CNN that the Kingdom does not want US troops to leave and a withdrawal would make the Middle East less safe.
To read about this and more of the week’s news from the Kingdom, click here.
If you would like to be added to our weekly email distribution of this newsletter, please email us.