Tanking oil prices could more than double Saudi Arabia's deficit to $75 billion and threaten spending plans: Goldman Sachs economist
1. Saudi Arabia's budget deficit may exceed $75 billion amid low oil prices. 2. Goldman Sachs lowered its Brent crude price forecast to $62 per barrel. 3. Vision 2030 projects like Neom face potential cutbacks due to fiscal pressure. 4. Saudi Arabia needs oil above $90 per barrel for budget balance. 5. Economic reforms aim to boost foreign investments and diversify revenue.