IMF says it's encouraged by Gulf's economic reform plans | Reuters

IMF says it's encouraged by Gulf's economic reform plans | Reuters:

"The International Monetary Fund said it was encouraged by the efforts of Saudi Arabia and other Gulf Arab oil exporters to repair damage to their state finances as low crude prices slash export revenues.

"I do see in a number of countries action to address the budget deficit," Masood Ahmed, director of the IMF’s Middle East and central Asia department, said in an interview. "That gives us encouragement and comfort."

He was speaking hours before Saudi Arabia's government was due to announce on Monday a sweeping plan to ensure its economy could survive an era of cheap oil, including spending cuts, tax rises and policies to expand the private sector."



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