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@zephyreks@lemmy.mlM to World News@lemmy.ml • 2 years ago

Saudi Arabia predicts budget deficit as it funnels money into gigaprojects

www.ft.com

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Saudi Arabia predicts budget deficit as it funnels money into gigaprojects

www.ft.com

@zephyreks@lemmy.mlM to World News@lemmy.ml • 2 years ago
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Saudi Arabia predicts budget deficit as it funnels money into gigaprojects | Financial Times
www.ft.com
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Preliminary budget statement pares growth forecast for this year to 0.03%
  • @PowerCrazy@lemmy.ml
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    2 years ago

    The wisdom of these gigprojects in the middle of a desert aside, it would be awesome more governments would stop trying to run themselves into the ground for profit. Because who the fuck is benefiting if a country is taking more in taxes then they are providing their citizens in services?

    • @herr@lemmy.world
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      5•2 years ago

      Which countries are running on a profit, exactly?

      • @Squizzy@lemmy.world
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        -1•2 years ago

        Loads of countries have budget surpluses.

        • @SocialMediaRefugee@lemmy.ml
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          3•2 years ago

          Loads? These aren’t exactly major nations here and the bigger ones are oil producers.

          https://www.worldatlas.com/articles/countries-with-the-top-budget-surplus.html

        • @herr@lemmy.world
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          2•2 years ago

          I asked which ones. Denmark has a surplus, but that’s accidental and no one’s trying to keep it that way.

          And if you’re about to give Qatar as an example, the point is moot.

        • Cyclohexane
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          2 years ago

          This doesn’t answer the question.

      • @PowerCrazy@lemmy.ml
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        -5•2 years ago

        Well none, but the Neo-liberal rhetoric around “balancing the budget” that infests most of the governments of the west.

        • @explodicle@local106.com
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          0•2 years ago

          What’s so bad about balancing the budget? Inflation is too high and taxes are too low.

          • @ltxrtquq@lemmy.ml
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            4•2 years ago

            I think the problem is mostly with how neo-liberals tend to try to balance the budget

    • @SocialMediaRefugee@lemmy.ml
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      2•2 years ago

      KSA actually hands out money to citizens.

      https://en.wikipedia.org/wiki/Citizen's_Account_Program_(Saudi_Arabia)

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