ASSESSMENTS
A Spending Spree as a Means of Fulfilling the Saudi Vision
Jan 4, 2018 | 08:00 GMT
![Saudi Finance Minister Mohammed al-Jadaan (R), Minister of Economy and Planning Mohammed al-Tuwaijri (C) and Saudi Arabian Monetary Agency Governor Ahmed al- Khulaifi (L) announce the state budget for 2018 on Dec. 19, 2017.](https://worldview.stratfor.com/sites/default/files/styles/2x1_full/public/ksa-budget.jpg?itok=1hFgZaFw)
Saudi Finance Minister Mohammed al-Jadaan (R), Minister of Economy and Planning Mohammed al-Tuwaijri (C) and Saudi Arabian Monetary Agency (SAMA) Governor Ahmed al- Khulaifi (L) take part in a press conference during which officials announced the state budget for 2018, in Riyadh, on December 19, 2017.
(FAYEZ NURELDINE/AFP/Getty Images)
Highlights
- Saudi Arabia's 2018 budget calls for spending a record amount of money, and based on precedent, actual spending will likely eclipse that figure.
- About 20 percent of the budget is devoted to military spending, but it also includes a substantial increase in spending on programs benefiting the populace.
- The careful introduction of new tax measures and a levy on expatriate workers are part of the government's unprecedented push to expand non-oil revenue.
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