Saudi Arabia pursuing an appropriate fiscal balance target, IMF mission chief says - The National

Saudi Arabia pursuing an appropriate fiscal balance target, IMF mission chief says - The National:

"Saudi Arabia, the world’s biggest oil exporter, is pursuing an “appropriate” policy by pushing back its deadline of achieving a balanced budget to 2023, giving the economy a breather as it slows down fiscal reforms to propel growth that stagnated in 2017, the IMF mission chief to Saudi Arabia said. “We are happy to see that the government has now set a later date for returning the budget to balance and we think that is entirely appropriate. If they can achieve a budget balance by 2023 that would be fine,” said Tim Callen. The kingdom revealed last year its biggest budget ever for 2018, allocated 200 billion riyal to a four-year stimulus programme and approved bonuses for public sector employees, measures that are aimed at accelerating growth hurt by austerity and low oil prices."



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