Tuesday, April 5, 2016

Saudi Arabia Pushes Austerity To Mitigate Latest Oil Woes


By Ben Chu, April 03, 2016 Independent

Saudi Arabia has outlined plans to ramp up its austerity programme and avert the threat of national bankruptcy amid a sliding oil price and growing tensions with its regional oil-exporting rival Iran.
 
In an interview with Bloomberg, deputy crown prince Mohammed bin Salman said the country’s economic reform programme would raise an extra $100bn (£70bn) in revenues a year by 2020, tripling income from non-oil sources and balancing the budget.
Read More: http://www.independent.co.uk

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