Economics

IMF Says Its Call for Saudi Fiscal Restraint Met With Opposition

Khalid Al-Falih during a visit to the construction site of the King Salman International Maritime complex in Ras Al-Khair, Saudi Arabia. — Khalid Al-Falih during a visit to the construction site of the King Salman International Maritime complex in Ras Al-Khair, Saudi Arabia.
Photographer: Mohammed Al-Nemer/Bloomberg

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By Abeer Abu Omar

September 9, 2019 at 1:00 PM UTC

Updated on

September 10, 2019 at 4:25 AM UTC

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The International Monetary Fund warned that Saudi Arabia needs a tighter fiscal policy to safeguard its budget in case of a decline in oil prices, a view the lender said wasn’t shared by the kingdom’s authorities.