Saudi Arabia’s latest financial projections show expected annual real terms growth of less than 2.5% out to 2021 despite a range of measures to stimulate the economy. Spending is set to be stepped up again in a bid to accelerate growth.

Saudi Arabia plans a spending spree in the second half of 2018 that will see the budget deficit nearly quadruple from 1H 2018. Nevertheless, the expected $39.5bn deficit announced in revised Ministry of Finance figures is still considerably less than...