Saudi royal priorities
A recent budget report shows challenges ahead for the Saudi economy in 2015.
The Saudi budget announced late this December keeps domestic and foreign spending high even as oil revenues plummet, a reflection of the royal family's concern about internal unrest four years after the Arab Spring. Hard choices are deferred for now.
The Saudi budget projects spending for next year at $229 billion and revenues at $190 billion, according to the Saudi Gazette. The estimated deficit will be $38.6 billion. Spending actually will rise slightly over last year while revenue has fallen due to lower oil prices. The deficit will be the largest in the kingdom's history.
