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Saudi makes the front page of the Wall Street Journal, which looks at how the Kingdom is taking on debt and planning the sale of another (small) stake in Aramco to continue financing gigaprojects under the Vision 2030 banner. The
REMEMBER- Policymakers have accepted small deficits as the price of continuing to invest in growth: “We intentionally decided to spend more and cause the deficit. If you spend that money right, on productive assets, then it’s money well spent,” Finance Minister Mohamed Al Jadaan said in December during the FY 2024 budget forecast. He signaled it will continue to run deficits to support the “government’s strategic expansionary spending.”
AND- The Kingdom is pacing out investment in some megaprojects so as not to block the private sector from liquidity it nerds to grow. The Kingdom’s budget closed FY 2023 in deficit.
