“Despite budget cuts imposed in 2020 and the possibility that further spending reductions may be forthcoming, companies working on the SAG’s giga-projects reported the ongoing availability of funding in 2020. Revenues generated by the tripling of Saudi Arabia’s value-added tax rate from 5 to 15 percent in July 2020 have helped ease fiscal stress.”

-The U.S. Department of State issued it’s 2021 Investment Climate for Saudi Arabia which provides a comprehensive assessment of the Kingdom’s economy, society and related reforms. [U.S. Department of State]