With economists predicting a budget deficit of as much as 20 percent of GDP this year and the IMF forecasting the first Saudi current-account deficit in more than a decade, Saudi Arabia faces tough fiscal policy choices ahead as the price continues to stay low.
Saudi finance expert and Ashmore Group Middle East Director John Sfakianakis spoke with Bloomberg TV about Saudi Arabia’s economy in the face of low oil prices.
Vivian Nereim and Donna Abu-Nasr on Bloomberg.com go into depth into Saudi Arabia’s fiscal challenges. Click here to read more.
