Saudi Arabia may cancel cUSD20bn worth of projects; to merge ministries
Saudi Arabia is reported to be in the process of reviewing thousands of projects worth a combined SAR260bn (USD70bn) and may cancel up to a third of them (cUSD20bn), in an attempt to reduce its budget deficit, according to a number of unnamed sources. Moreover, there are plans to eliminate and merge a number of government ministries, according to the same sources. (Bloomberg)
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