A Rare Glimpse Behind Saudi Arabia's Deteriorating Finances
- Kingdom’s Public Investment Fund will cut back on lending
- The government has slashed spending by more than 70 percent
Prospectus Sheds Light on Saudi Economy
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As Saudi Arabia prepares to meet investors Wednesday with a view to selling its first international bonds, the country has disclosed little-known information about its economy. Here are four statistics that catch the eye.
Saudi Arabia relies on oil for three-quarters of its income. Crude revenue has slumped 68 percent since 2011 to 334 billion riyals ($89 billion) this year amid a supply glut.