Saudi Arabia has already been forced to tighten its belt. Now it’s preparing for four more years of austerity.
Slammed by lower oil revenues, the kingdom’s budget deficit swelled to 366 billion riyals ($ 98 billion) in 2015, and 297 billion riyals this year. It was forced to borrow money from international investors for the first time ever, raising $ 17.5 billion in October.
