The “sky’s the limit”, Mohammed bin Salman proclaimed in 2017, a year into his sweeping economic diversification plan that made Saudi Arabia a magnet for financiers and companies looking to tap into the accompanying splurge.
But the crown prince’s plans are facing a reality check as his ambitious Vision 2030 programme reaches its midway point, with repercussions for domestic projects and foreign spending that could ripple through global finance.
With foreign direct investment below expectations and global interest rates still high, the kingdom’s leaders are reconsidering priorities and how best to fund their myriad investments as self-imposed deadlines approach.
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