Saudi Arabia’s economy minister denies the new budget is ‘radical austerity’

This week, Saudi Arabia announced that during 2015 it had seen a $98 billion deficit. Worse still, next year might not be much better, with a shortfall projected at $87 billion in the official budget. In a bid to raise revenues, oil prices were unexpectedly raised by 50 percent on Tuesday – jumping to the still remarkably cheap 0.90 […]











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