VOL. XLIII
No. 06
7-February-2000
SAUDI ARABIA
IMF Commends Tighter Saudi Fiscal Management But Says Situation Still Vulnerable
Saudi Arabias efforts to tighten fiscal management during the period of low oil prices the average price for Saudi oil exports fell to $11.8/B in 1998 succeeded in increasing non-oil revenues by 35%, but the country still lacks fiscal diversification and remains heavily dependent on oil receipts. As a result, says the latest International Monetary Fund (IMF) Article IV...
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