Riyadh - Mubasher: In efforts to shrink the highest budget deficit among the world’s biggest 20 economies, Saudi Arabia is aiming to cancel more than $20 billion of projects and slash ministry budgets by a quarter, Bloomberg reported on Tuesday.
The government is reviewing thousands of projects valued at about SAR 260 billion ($69 billion) and may cancel a third of them, which would impact the budget for several years.
A separate plan includes merging some government ministries and eliminating others, according to Bloomberg’s sources.
