The oil and gas nations in the Middle East are on track to post huge budget surpluses in 2022, and they appear to be pouring lots of it into clean energy projects
- Dec 22, 2022, 6:00 PM CST
In an effort to diversify their economies, these countries are now plowing this extra money into clean energy projects. thanks to high oil and gas prices. According to the kingdom’s finance ministry, releasing what it said were preliminary estimates, the country’s 2022 surplus clocked in at 102 billion riyals , good for 2.6% of its gross domestic product . For 2022, total revenue will have hit around 1.234 trillion riyals, against spending of around 1.132 trillion riyals.
Of course, things have turned out much better than feared for these nations, but they remain acutely aware of just how dependent on oil and gas their economies have become.
Belgique Dernières Nouvelles, Belgique Actualités
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