Middle East & North Africa Economics

Middle East Economics Update

18 December, 2018

Saudi budget: wishful thinking

Saudi Arabia’s budget for 2019 outlined further fiscal loosening but the government seems to be relying on optimistic assumptions for oil prices to rise to almost $80pb. If prices stay low as we expect, this stimulus is likely to be reversed in the second half of the year, weighing on growth in the non-oil sector.

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