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 revenue from a value-added tax and excises on tobacco and energy drinks is forecast to reach…
On This Page
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
