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Quoted

“…the increase in VAT will impact all sectors in the economy, and that will impact the whole market. Yes, we will see change in sentiment. We will see pressure, but nevertheless, this is something that is needed; certain austerity measures are needed at times when you’re required to act.”

-Marwan Shurrab of Al Ramz Capital commenting on Saudi austerity measures in Bloomberg Quint. [Bloomberg]





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