Saudi Vision 2030 projects, service sector to pick up on consumer demand
Saudi Arabia is expected to witness a pick-up in construction for its Vision 2030 projects and the services sector, underpinned by consumer demand and a growing workforce, S&P said in a report.
The sheer scale and size of projects - estimated to be exceeding $1 trillion - suggest large funding requirements across government and government-related enterprises, particularly the Public Investment Fund (PIF).
Therefore, the government is recalibrating to prioritize projects based on economic returns and reassessing timelines to avoid economic overheating and funding pressures, the report said.
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