RealNews

Saudi Arabia to Boost Spending

Saudi Arabia said Monday that it plans to ramp up government spending next year — despite a sharp downturn in oil prices — and incur its first budget deficit in six years to keep its economy growing. The kingdom, the world’s largest oil exporter, said revenue next year is forecast at 410 billion riyals, or $109.31 billion, against budgeted spending of 475 billion riyals. Full Story

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