IMF urges Saudi Arabia to hike fuel prices

摘要

Dubai—The International Monetary Fund Wednesday reiterated its call for Saudi Arabia to scale back domestic fuel subsidies as it grapples with a record budget deficit due to falling oil prices. In its 2015 staff report following consultations with Riyadh, the IMF underscored the need for a sizable multi-year fiscal adjustment by the Saudi government, based on a mix of expenditure and revenue measures.