Higher Oil Prices Slowing Saudi Reform? – ValueWalk Premium
higher oil prices

Higher Oil Prices Slowing Saudi Reform?

In October, the IMF released a report projecting that by 2020 Saudi Arabia may get a budget boost of more than $90 billion from new taxes and the planned reform of fuel subsidies and prices.

This fiscal boost is expected to come as a result of the Kingdom's efforts to restructure its economy,  away from oil to improve its income statement after a plunge in crude prices triggered a budget deficit of more than 16% of GDP last year.

According to the IMF's calculations, non-oil . . .

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