Saudi Arabia to cut oil spending as focus shifts to non-oil ... - MSN

Saudi Arabia is expected to invest more than $1 trillion in strategic sectors of its economy by 2030, spending less on its oil and gas industry as focus shifts to boosting non-oil sectors that ...

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Saudi Arabia To Cut Oil Spending As Focus Shifts To Non-oil ... - MSN

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Saudi Arabia is expected to invest more than $1 trillion in strategic sectors of its economy by 2030, spending less on its oil and gas industry as focus shifts to boosting non-oil sectors that ...

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Saudi Arabia Plans $1 Trillion Investment In Non-Oil Sectors, …

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According to ...

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Saudi Arabia Accelerates $2.5 Trillion Mining Plans To Cut Oil …

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Dec 10, 2024 · The country’s non-oil economy was valued at 1.7 trillion Saudi Riyals (approximately 453 billion U.S. dollars) at constant prices, driven by steady growth in exports, …

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Saudi Arabia To Reduce Big Spending On Oil Sector, Goldman Says

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Aug 16, 2024 · The government’s oil earnings have dropped around one-third from 2022 levels, when oil prices averaged nearly $100 a barrel. Saudi Arabia’s second-quarter budget shortfall …

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Saudi Arabia To Cut Oil Spending As It Focuses On Non-oil Sectors

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Aug 19, 2024 · Saudi Arabia is expected to invest more than $1 trillion in strategic sectors of its economy by 2030, spending less on its oil and gas industry as focus shifts to boosting non-oil …

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Saudi Arabia’s Non-oil Economy To Grow 4.4% In 2025: PwC

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Nov 17, 2024 · In October, Moody’s projected that Saudi Arabia’s non-hydrocarbon real GDP would grow by 5 percent to 5.5 percent from 2025 to 2027, driven by increased government …

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Oil Prices Keep Dropping: Saudi Arabia Shifts Away From $100

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This strategy differs from Saudi Arabia’s recent focus on maximizing revenues. The Kingdom’s budget, heavily reliant on oil income, was balanced around an estimated $100 per barrel price …

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Why Non-oil GDP Growth Is Essential For Saudi Arabia’s Economic ...

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May 6, 2024 · For example, Saudi Arabia’s focus on non-oil industries helped it achieve a record $84.4 billion in non-oil exports, with manufacturing and services sectors growing by 15 percent …

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UAE, India, And China Among Top Destinations For KSA’s Non-oil …

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Jan 25, 2025 · RIYADH: The UAE was the leading destination for Saudi Arabia’s non-oil exports in November, with outbound shipments to the Emirates reaching SR7.17 billion ($1.87 billion) …

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FAQs about Saudi Arabia to cut oil spending as focus shifts to non-oil ... - MSN Coupon?

What is the real GDP growth rate for non-oil activities in Saudi Arabia?

Government data released last month shows the real GDP growth rate for non-oil activities at about 4.4%, valuing the sector at about 1.7 trillion Saudi riyals (around $453 billion). ...

Will Saudi Arabia invest less in oil?

Saudi Arabia is expected to invest less in its oil industry than initially expected in its goal to spend $1T in strategic sectors by the end of the decade, Goldman Sachs said in a report Friday, according to Bloomberg. ...

Will Saudi Arabia reshape the global oil market?

Saudi Arabia, the world’s largest crude oil exporter, is set to increase production in December, abandoning its previously pursued $100 per barrel price target. This decision could reshape the global oil market in the coming months as other producers and consumers adjust to the new reality of lower prices. ...

How much will Riyadh spend on oil?

Spending in the oil sector, Riyadh's biggest source of revenue, is expected to decline by $40 billion to about $280 billion across the upstream and downstream sectors, it noted. ...

Why is Saudi Arabia undergoing a significant economic transformation?

Saudi Arabia, historically renowned for its vast oil reserves, is undergoing a significant economic transformation as it implements reforms to reduce its dependence on oil, diversify sources of income and enhance competitiveness. ...

Can Saudi Arabia weather a period of lower oil prices?

Despite the importance of oil revenues, Saudi officials appear confident that the Kingdom can weather a period of lower prices. Saudi Arabia has alternative funding options, such as foreign exchange reserves and the issuance of sovereign debt. ...