Economics
Saudi Arabia Set to Announce 2016 Budget Amid Oil Plunge
- Budget is 1st under King Salman, may see capital spending cut
- Kingdom may post a budget deficit of 20% of GDP this year
What Can Saudi Arabia Afford to Cut Amid Oil Slump?
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Saudi Arabia, seeking to cope with the lowest oil prices in more than a decade, may announce cuts in capital spending and other economic measures for next year as it unveils the first annual budget under King Salman.