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Saudi Arabia to Use Oil Windfall to Boost Private Sector

Saudi Arabia posted a $15.3 billion budget surplus on surging income from exports of crude and refined fuel.

Saudi Arabia posted a $15.3 billion budget surplus on surging income from exports of crude and refined fuel.

Photographer: Simon Dawson/Bloomberg

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Saudi Arabia will use this year’s oil windfall to accelerate the economy’s diversification from fossil fuels, according to a minister.