Saudi Arabia Sits on Its Oil-Boom Windfall as It Seeks to Diversify Economy

RIYADH – In previous oil booms, Saudi Arabia poured windfalls into massive infrastructure and handouts for its citizens. This time it’s on the till.

With oil prices consistently above $100 a barrel, Saudi Arabia is experiencing its fastest economic growth in a decade, with a budget surplus of $15 billion this year, which is expected to increase to around $80 billion by the end of 2022.

https://www.wsj.com/articles/saudi-arabia-seeking-to-diversify-economy-sets-plans-for-its-oil-boom-windfall-11654100270 Saudi Arabia Sits on Its Oil-Boom Windfall as It Seeks to Diversify Economy

Alley Einstein

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