The ambitious development projects in Saudi Arabia are straining the country’s finances, leading to unprecedented borrowing and potential stock sales in its crown jewel, Saudi Aramco. What Happened: Saudi Arabia has been embarking on a series of high-profile projects, including a $500 billion city and a $48 billion property development. These initiatives, led by the country’s sovereign wealth fund, have significantly depleted the fund’s cash reserves, reported The Wall Street Journal. To continue funding these projects, the kingdom has resorted to borrowing, a strategy it had previously avoide…
