Riyadh – Mubasher: Saudi Arabia’s budget deficit for 2016 and 2017 is expected to come lower than estimates, as a result of adjusting government spending, accompanied with improvements in non-oil revenues, according to a report by Jadwa Investment.
The research firm said that the adjustment in spending will negatively affect the private sector activity, resulting a decline in non-oil GDP growth.
The report stated that the international sovereign bond issuance program will protect the Kingdom’s foreign-exchange reserve and relieve the liquidity pressure in the domestic banking system.
