Saudi Arabia’s 2020 budget makes clear that the authorities are preparing for a prolonged period of low oil prices by introducing fresh fiscal austerity. This, combined with the deeper oil production cuts agreed with OPEC+ last week, has prompted us to revise down our GDP growth forecast for next year to 1.3%.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services