Saudi Arabia Releases 2017 Budget

The video discusses Saudi Arabia's commitment to reducing its budget deficit, highlighting a lower-than-expected deficit for 2016 and projections for a surplus by 2019. The reduction is driven by decreased spending, though future spending is expected to rise, with revenue growth from both oil and non-oil sectors. The reliance on oil prices is significant, with predictions of a price increase to $66 per barrel. Despite a decline in oil revenue proportion, it remains a major revenue source. The video also covers austerity measures, delayed contractor payments, and expected benefits for sectors like retail and construction due to increased spending.

What are the predictions for oil prices and their impact on the budget?

Which sectors are expected to benefit from the new budget plan?