Saudi Arabia's ambitious Vision 2030 projects, including the $1.5 trillion NEOM initiative, face scrutiny as the kingdom shifts focus to domestic investments amid rising deficits and lower oil revenues. Despite a projected budget deficit of $21.1 billion for 2024, officials assert that non-oil revenues now cover 37% of expenditures, indicating a commitment to fiscal discipline and economic diversification. However, skepticism remains regarding the feasibility of mega-projects, with some analysts predicting potential cutbacks to ensure sustainability.
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