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Wednesday, 21 December 2016

Saudis to Unveil Roadmap to Balanced Budget, Possible Surplus - Bloomberg

Saudis to Unveil Roadmap to Balanced Budget, Possible Surplus - Bloomberg:
"Saudi authorities will on Thursday unveil steps to balance one of the highest budget deficits in the Middle East and possibly achieve a surplus in 2020, according to a senior government official with knowledge of the matter.

The plan will focus on bolstering non-oil revenue and will seek to shield middle- and low-income earners from the impact of the planned measures, the official said on condition of anonymity. The economic council chaired by Deputy Crown Prince Mohammed bin Salman devised the plan, the official said."

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