Saudi Arabia Plans Subsidy Cuts as King Unveils 2016 BudgetBy and
Oil made up 73% of government revenue in 2015, ministry says
Defense spending largest item in 2016 at 213 billion riyals
Saudi Arabia said it plans to gradually cut subsidies and sell stakes in government entities as it seeks to counter a slump in oil revenue.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.