Military Periscope Logo

Kingdom Plans Largest Budget Ever For 2018

December 20 2017

Saudi Arabia

Saudi Arabia has announced its largest budget ever, including more defense spending, reports CNBC.

Announced on Tuesday, the kingdom's projected budget is US$261 billion, up from about US$250 billion in 2017, according to Forbes. Government economists predict a 2.7 percent expansion in GDP for 2018.

Saudi Arabia is still trying to diversify its economy amid slumping oil prices. Its economy contracted by 0.5 percent in 2017, as the government cut subsidies on gasoline and...

Please log in to continue reading.

Not yet a subscriber? Take a free trial.

Military Periscope gives you easy-to-use, integrated, open-source intelligence on…

  • More than 7,500 weapons systems and platforms
  • Nearly every country's armed forces
  • Militant organizations
laptop image

Try Military Periscope free for seven days