You are here

Saudi data suggests budget crunch may be several years away

But a study says the world may have entered a sustained period of low oil prices, leaving Riyadh vulnerable
Monday, August 10, 2015 - 05:50
BT_20150810_NAHSAUDI10_1816691.jpg
BEYOND THE HORIZON: Bigger savings could come from starting to bring down the state's huge spending on energy subsidies, which will total US$107 billion this year, the International Monetary Fund estimates.

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 to below US$50 a barrel, near six-year