(Bloomberg) — Saudi Arabia plans to cut spending next year to contain a widening budget deficit as a decline in oil revenue runs up against the cost of multibillion-dollar infrastructure projects.
Expenditure for 2025 is forecast at 1.285 trillion riyals ($343 billion), down 5% on estimates for this year, according to a statement published by the finance ministry on Monday. Government total spending is expected to reach 1.429 trillion…