Saudi Arabia Sees 2018 Budget Deficit of $52 Billion

The video discusses Saudi Arabia's expansionary budget, which increases spending by 6% and aims to reduce the budget deficit to below 8% of GDP. This is supported by rising oil prices and expected growth in non-oil revenue through taxation. The budget also cuts subsidies, aiming to revive economic activity. A new citizens account will assess personal income to determine state payments, targeting financial support more effectively.

What is the main reason for the expected reduction in Saudi Arabia's budget deficit?

• Decrease in oil prices

• Increase in non-oil revenue

• Rising oil prices

• Reduction in government spending

What is the expected impact of the expansionary budget on Saudi Arabia's economy?

• It will cause a recession

• It will have no impact on the economy

• It will revive economic activity

• It will lead to a decrease in economic activity

How much is Saudi Arabia planning to spend according to the expansionary budget?

• 150 billion U.S. dollars

• 260 billion U.S. dollars

• 210 billion U.S. dollars

• 300 billion U.S. dollars

What is the purpose of the citizens account being introduced by the Crown Prince?

• To provide subsidies to the rich

• To increase oil revenue

• To determine state payments based on personal income

• To cut government spending

Why are subsidies being cut according to the Crown Prince?

• They are seen as a blunt and wasteful instrument

• They are too expensive to maintain

• They are not popular among citizens

• They are only beneficial to the poor