Spending in Sights as Saudi Set to Unveil Budget Amid Oil Slump

  • 2016 budget is first under new king and economic council
  • Economists see deficit narrowing to 14 percent of output

Saudi Arabia Weighs Spending Cuts Ahead of Budget

Its reserves sapped by more than a year of cheap oil, Saudi Arabia is expected to cut spending when it unveils its budget this month, while steering clear of the more painful reforms some economists argue are needed to ensure long-term financial stability.

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