RIYADH: Saudi Arabia is accelerating plans to sell off state assets and isn’t ruling out introducing income tax as the kingdom seeks to boost state coffers hit by the slump in oil prices.
The world’s biggest oil producer could raise more than 50 billion riyals (US$13.3bil) over the next four to five years by privatising assets in the education, health-care and water sectors, Finance Minister Mohammed Al Jadaan 9pic) said on Wednesday during a virtual forum organised by Bloomberg.
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