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  • 12-10-21

    Saudi economy to get USD7T in government spending, investments by 2030

    (MENAFN) As Saudi Arabia aims to be among the top 15 global economies, the Kingdom’s economy is estimated to receive SR27 trillion in government spending and investments by 2030, according to Saudi Arabia's Crown Prince Mohammed bin Salman.

    The Kingdom is going to invest over SR12 trillion (USD3.2 trillion) by 2030 to spur local economic growing, as the economy will get SR10 trillion through government spending over the coming 10 years and a further SR5 trillion from private consumption spending in the same time span.

    Saudi Press Agency quoted him as saying that this shows a total addition of SR27 trillion (USD7 trillion) by 2030.

    It added that the funds are part of the National Investment Strategy (NIS), a key enabler to attain the goals of the Vision 2030. The NIS is going to target key sectors such as manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure, and health care.

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