Key Points Saudi Arabia's current account balance is expected to turn negative, with a deficit of 0.1% of GDP in 2023 and 1.1% in 2025, averaging 2.9% from 2026-2029. The projected deficit is driven by declining oil prices and increased imports related to economic transformation projects. In 2022, Saudi Arabia had a significant current account surplus of nearly 14% of GDP due to high crude prices following geopolitical tensions. Despite the expected deficits, Saudi Arabia’s overall economic outlook remains strong,...