DUBAI: Higher public spending will push Saudi Arabia’s budget deficit to 7% of gross domestic product this year, the International Monetary Fund (IMF) said, a forecast well above the government’s own projection.
The IMF’s forecast assumes that Saudi oil output will average 10.2 million barrels a day and oil prices will average US$65.5 a barrel in 2019, it said in a statement after a staff visit to the kingdom.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
