PNN – The Financial Times newspaper reported on the financial pressures on Saudi Arabia caused by the war against Iran.
According to the report of Pakistan News Network, the Financial Times reported that Saudi Arabia has suspended new contracts with major international consulting firms and postponed some payments in order to manage the growing financial pressures associated with the war against Iran and increased government spending.
The measures, the report said, reflect growing pressure on Crown Prince Mohammed bin Salman’s Vision 2030, which has relied heavily on massive infrastructure spending and international consulting firms.
Saudi ministries and government agencies have been informally warned not to approve new consulting contracts without specific approval from the Ministry of Finance, according to executives cited in the report.
According to the report, this policy shift has accelerated after the Iran war, which raised concerns about oil revenues, maritime security, and the vulnerability of regional infrastructure.