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Published: 02-04-2019
KSA’s Ministry of Finance announced the 2019 budget on 18th December 2018. KSA plans to increase state spending by 7% in 2019 to spur economic growth that has been impacted by low oil prices. Spending is projected to rise to an all-time high of US$ 295 Bn.
In 2019, expenditure is planned to be focused on ensuring efficiency of operational expenditure whilst increasing capital investment in new infrastructure initiatives to strengthen the economy, according to
industry experts.
A plethora of privatisation deals in KSA is expected to raise US$ 10 Bn by 2020 as the kingdom surges ahead with its economic transformation plan, according to Hogan Lovells. The private sector is expected to play a wider role in infrastructure development, funding, financing and operations. Therefore, the government has adopted a policy of procuring infrastructure projects through a private public partnership (PPP) mechanism. KSA’s potential as a global transport hub has led to the development of major infrastructure projects
focused on connecting cities, thereby providing opportunities for private and foreign investments.
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