Saudi Arabia Said to Create Special Office to Cut Spending

Saudi Arabia is creating a special office to tighten oversight of government spending as the country grapples with sliding oil prices and its first projected budget deficit since 2009, two people with knowledge of the matter said.

The government is setting up a project management office that will report to the Committee of Economic Development, chaired by Deputy Crown Prince Mohammed Bin Salman, the people said, asking not to be identified as the information is private. This office will oversee similar bodies, being created in ministries, municipalities and state entities to ensure infrastructure projects are executed on time and within budget, the people said.