Saudi Arabia approved a budget for 2025 projecting a smaller deficit of $26.8 billion, down from $30.6 billion in 2024, with spending on economic reforms continuing. The budget reflects reduced expenditures and aims for sustainable levels of public debt and government reserves. Government officials are recalibrating plans for projects like NEOM, emphasizing long-term success over short-term targets and highlighting the importance of non-oil activities in driving economic growth.
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Trump and Netanyahu Leave Little Daylight Between Them
Prime Minister Benjamin Netanyahu of Israel was all smiles during his meeting with President Trump, who reaffirmed his support for Israel's military actions against Hamas and reinstated pressure on Iran. The two leaders discussed brokering a diplomatic rapprochement between Israel and Saudi Arabia, while Mr. Netanyahu expressed his satisfaction with the alignment between the U.S. and Israel under Mr. Trump's leadership, contrasting it with his previous tensions with President Biden. Despite some differences in their...
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