Saudi Arabia warns of economic loss from Gaza war at global summit

Saudi Arabia warns of economic loss from Gaza war at global summit

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“Eight years after Vision 2030, we have demonstrated our willingness to move towards a model of transformative development that is innovative, inclusive and sustainable. And we have seen some results,” Ibrahim said on Saturday.

Yet questions remain as to how much of Vision 2030 will be achieved and when, with particular scrutiny placed on signature projects such as NEOM, a planned futuristic megacity.

In December, Zadan, the Saudi finance minister, said authorities had decided to extend timelines for some major projects beyond 2030, without specifying which ones, though he also said others would be accelerated. .

Saudi Arabia is projecting a budget deficit by 2026 and GDP growth was nearly stagnant after cutting oil production last year.

Jadan stressed on Sunday that non-oil GDP growth was “very good” at 4.4 percent and that “Vision 2030 is, really, about non-oil GDP”.

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