Saudi Arabia Releases 2017 Budget

The video discusses Saudi Arabia's commitment to reducing its budget deficit, highlighting a lower-than-expected deficit for 2016 and projections for a surplus by 2019. The reduction is driven by decreased spending, though future spending is expected to rise, with revenue growth from both oil and non-oil sectors. The reliance on oil prices is significant, with predictions of a price increase to $66 per barrel. Despite a decline in oil revenue proportion, it remains a major revenue source. The video also covers austerity measures, delayed contractor payments, and expected benefits for sectors like retail and construction due to increased spending.

What was the main factor contributing to the reduction in the budget deficit for 2016?

• Reduction in spending

• Higher tax revenue

• Increase in oil prices

• Foreign investments

What is the predicted price of oil per barrel in the main scenario?

• $50

• $66

• $75

• $80

Which sector's revenue proportion increased to 38%?

• Non-oil sector

• Agricultural sector

• Tourism sector

• Oil sector

What was one of the austerity measures implemented in Saudi Arabia?

• Reduction in oil production

• Expansion of public sector jobs

• Delayed payments to contractors

• Increased foreign aid

Which sectors are expected to benefit from increased spending next year?

• Technology and finance

• Retail and construction

• Agriculture and mining

• Healthcare and education