Saudi Arabia seeks to wean country of oil

Between September 2014 and February 2016, global oil prices dropped by about 70 percent, and the ensuing decline in oil-dominated export revenue led to Saudi Arabia’s budget deficit ballooning to $98 billion last year — a figure equivalent to nearly 15 percent of its gross domestic product.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s