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Analysis & Forecasts

Middle East & Africa

November 2018

Electricity demand in Saudi Arabia will likely be boosted by greater spending in 2019, driving up the need for expanded generation capacity amid wider plans to reform the economy and reduce the country’s dependence on oil income. With oil prices having recovered to $80 per barrel, the government said it plans to spend an additional SAR 1.1 trillion ($295 billion) in 2019, an increase of 7% compared with the previous budget. A more detailed budget is expected in December.

However, meeting future electricity requirements will hinge...