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Saudi to hike borrowing to stimulate virus-hit economy

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Saudi Arabia plans to raise borrowing by 20 percentage points to 50 per cent of GDP to steady an economy rocked by plunging oil prices and the new coronavirus, the finance minister said Friday.

[RIYADH] Saudi Arabia plans to raise borrowing by 20 percentage points to 50 per cent of GDP to steady an economy rocked by plunging oil prices and the new coronavirus, the finance minister said Friday.

Oil is the mainstay of government revenue and this week slipped below US$25 a barrel...

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