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High oil prices and low interest rates allows the Saudi government to press ahead with structural reforms. |
HIGH OIL PRICES and low interest rates, the traditional preconditions for a strong performance from the Saudi Arabian economy, have enabled the government to press ahead with structural reforms without having to impose the spending cuts that in recent years would have been needed to keep the budget under control. With benchmark oil prices likely to remain nearer $30 a barrel than $20, well above the budgeted average figure of $17 a barrel, and production expected to stay at 9.5
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