Low Oil Prices Force Saudi Arabia To Slash 2021 Budget Plan By Seven Percent
LAGOS DECEMBER 17TH (NEWSRANGERS)-Saudi Arabia reduced its budget plan for 2021 by 7 percent from this year’s in response to the economic fallout of the pandemic, which pushed oil prices to multi-year lows. Reuters reported that Riyadh will spend some $264 billion next year, or 990 billion riyals, as it battles a substantial deficit resulting…