Google+ Followers

Wednesday, 17 May 2017

Don't tighten fiscal policy too fast, IMF warns Saudis | Reuters

Don't tighten fiscal policy too fast, IMF warns Saudis | Reuters:

"The International Monetary Fund warned Saudi Arabia on Wednesday not to tighten fiscal policy too fast, saying rapid cuts to the government's budget deficit could damage the economy.

Tim Callen, head of an IMF team which held annual consultations with Saudi officials last week, said Riyadh's goal of balancing its budget was appropriate. Low oil prices in the past couple of years have pushed it deep into the red.

But Callen added, "The target of balancing the budget, however, does not need to be met in 2019 as set out in the Fiscal Balance Program given Saudi Arabia’s strong financial asset position and its low debt."



'via Blog this'