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zephyreks@lemmy.mlM to World News@lemmy.ml · 2 years ago

Saudi Arabia predicts budget deficit as it funnels money into gigaprojects

www.ft.com

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Saudi Arabia predicts budget deficit as it funnels money into gigaprojects

www.ft.com

zephyreks@lemmy.mlM to World News@lemmy.ml · 2 years ago
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Preliminary budget statement pares growth forecast for this year to 0.03%
  • PowerCrazy@lemmy.ml
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    2 years ago

    The wisdom of these gigprojects in the middle of a desert aside, it would be awesome more governments would stop trying to run themselves into the ground for profit. Because who the fuck is benefiting if a country is taking more in taxes then they are providing their citizens in services?

    • herr@lemmy.world
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      2 years ago

      Which countries are running on a profit, exactly?

      • PowerCrazy@lemmy.ml
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        2 years ago

        Well none, but the Neo-liberal rhetoric around “balancing the budget” that infests most of the governments of the west.

      • Squizzy@lemmy.world
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        2 years ago

        Loads of countries have budget surpluses.

        • SocialMediaRefugee@lemmy.ml
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          2 years ago

          Loads? These aren’t exactly major nations here and the bigger ones are oil producers.

          https://www.worldatlas.com/articles/countries-with-the-top-budget-surplus.html

        • herr@lemmy.world
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          2 years ago

          I asked which ones. Denmark has a surplus, but that’s accidental and no one’s trying to keep it that way.

          And if you’re about to give Qatar as an example, the point is moot.

        • Cyclohexane@lemmy.ml
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          2 years ago

          This doesn’t answer the question.

    • SocialMediaRefugee@lemmy.ml
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      2 years ago

      KSA actually hands out money to citizens.

      https://en.wikipedia.org/wiki/Citizen's_Account_Program_(Saudi_Arabia)

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