Saudi budget is balm for investors stung by austerity drive
World's biggest oil exporter will boost spending to 1.1t riyals to revive an economy that has languished
Dubai
FOR investors who watched austerity measures pummel growth over the past two years, Saudi Arabia's 2018 budget is a relief.
The world's biggest oil exporter will boost spending to 1.1 trillion riyals (S$395 billion) to revive an economy that has languished as the country copes with lower oil prices. Ashmore Group plc says it's a sign Crown Prince Mohammed bin Salman's reforms are going ahead.
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