Saudi Arabia has lowered its growth forecast and expects to post a budget deficit this year rather than an earlier projected surplus, a preliminary budget statement showed on Saturday.
The largest Arab economy expects real gross domestic product to grow by 0.03% this year, the document released by the ministry of finance showed, compared with a previous forecast for growth of 3.1%.
The document projected a budget deficit of 2% of GDP, compared with an earlier projection for a 0.4% surplus.
Lol @ rocket travel replacing airlines. I can’t even formulate a response explaining how ridiculous that is. But I’m more than happy to bet you very large amounts of money that it won’t happen.