Saudi Arabia planning to cancel $20bn worth of projects – report

With all these cuts in Saudi government spending, construction is the largest sector that is affected. Some estimate cite as much as 45%. Outgoing remittances will be impacted and the results would clearly be noticeable in the coming quarters.

Ministry budgets could be cut by a quarter; some ministries may also be merged or eliminated

Source: Saudi Arabia planning to cancel $20bn worth of projects – report

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