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Saudi Arabia reported a first-quarter fiscal deficit of 125.7 billion riyals ($33.5 billion), nearing its projected annual deficit of $44 billion, as the country increases spending to bolster its economy amid disruptions from the Iran war, with overall spending rising 20% and economic growth expected to slow despite higher oil prices. #EconomicImpact #SaudiArabia #FiscalDeficit #SA #IR
www.reuters.com
Saudi Arabia's quarterly deficit balloons to $33.5 billion, driven by spending surge
DUBAI, May 5 (Reuters) - Saudi Arabia reported a first-quarter fiscal deficit of 125. 7 billion riyals ($33. 5 billion), not far off its full-year projection of $44 billion, as it hikes spending to support the economy amid disruption caused by the Iran war.