DUBAI: Pressure on Saudi Arabia’s state finances is mounting as oil prices fall but the latest official figures suggest the world’s top crude exporter still has at least several years before it faces a budget crunch.
Brent oil sank last week below US$50 a barrel, near six-year lows, from US$70 three months ago. That promises to increase the rate at which the kingdom is drawing down its foreign reserves to cover its budget deficit.
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