Saudi Arabia has announced another historic budget. The government’s main thrust is to support the economy through the largest expenditure in its economic history. Overall expenditure is expected to grow by 7 percent as the main impetus is to support growth in the economy.

Saudi Arabia is proving to be the fiscal success story of the Group of Twenty (G-20). The fiscal consolidation of the past years is paying off. 

The visit to Saudi Arabia by Donald J. Trump, and the series of mega deals signed, brings to mind the adage of another American president, Calvin Coolidge: The business of America is business.

Last week, Saudi Arabia’s Finance Ministry made a historic announcement: Its first quarterly budget report. The fiscal map of Saudi Arabia is becoming more predictable and transparent.

Saudi Arabia’s economy is going from strength to strength. In just six months, the Kingdom has managed to raise nearly SR100 billion ($26.5 billion) in international bonds. 

One cannot visit Jordan without hearing the latest mutterings about austerity measures. Jordan’s prime minister recently appeared on national TV, announcing a cut in public salaries and setting a salary ceiling. 

This week’s visit by the president of the Hellenic Republic, Prokopis Pavlopoulos, and 11 Greek ministers and top businesspeople to Saudi Arabia ushers a new era in bilateral relations.