Saudi Arabia reveals how it plans to balance its budget

A Saudi investor monitors the stock exchange in the capital Riyadh. The country has announced a stimulus package for the private sector worth 200 billion riyals (US53.3bil) until 2020. — AFP

DUBAI: Saudi Arabia followed a historic budget announcement last week with an 84-page document outlining how the Arab world’s largest economy plans to balance its budget by 2020. The document includes plans to curtail capital spending, raise new revenue and stimulate the private sector.

Authorities reviewed projects with a total cost of 490 billion riyals (US$131bil) under the five civilian ministries with the highest capital spending.