You are here

Saudi budget is balm for investors stung by austerity drive

World's biggest oil exporter will boost spending to 1.1t riyals to revive an economy that has languished

The kingdom has gradually relaxed restrictions for foreign investors as part of Crown Prince Mohammed's (above) plan to overhaul the economy. But cuts to bonuses and subsidies over the past two years are among the factors that have weighed on investors.


FOR investors who watched austerity measures pummel growth over the past two years, Saudi Arabia's 2018 budget is a relief.

The world's biggest oil exporter will boost spending to 1.1 trillion riyals (S$395 billion) to revive an economy that...