Saudi Arabia Aims to be among 15 Top Global Economies with $7tr Plan

RIYADH/JEDDAH: Saudi Arabia’s Crown Prince Mohammed bin Salman on Monday said that the Saudi economy is expected to get SR27 trillion in government spending and investments by 2030 as the Kingdom plans to be among the top 15 global economies.

The Kingdom will invest more than SR12 trillion ($3.2 trillion) by 2030 to spur local economic growth, while the economy will receive SR10 trillion through government spending over the next 10 years and a further SR5 trillion from private consumption spending in the same period.

This represents a total injection of SR27 trillion ($7 trillion) by 2030, he added in a statement carried by Saudi Press Agency.

The funds are part of the National Investment Strategy (NIS), a key enabler to achieve the goals of Vision 2030, he added. The NIS will target key sectors such as manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure, and health care, the statement said.

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