Saudi Arabia Sees 2018 Budget Deficit of $52 Billion

The video discusses Saudi Arabia's expansionary budget, which increases spending by 6% and aims to reduce the budget deficit to below 8% of GDP. This is supported by rising oil prices and expected growth in non-oil revenue through taxation. The budget also cuts subsidies, aiming to revive economic activity. A new citizens account will assess personal income to determine state payments, targeting financial support more effectively.

What criticism is mentioned regarding the current subsidy system?

What is the purpose of the citizens account that is being introduced?