Hit with record budget shortfalls, Saudi Arabia eyes spending cuts
Special to WorldTribune.com Facing record budget shortfalls as the price of oil continues to plummet, Saudi Arabia announced it would slash its budget and issue more bonds. According to figures released by the International Monetary Fund (IMF), the kingdom’s budget deficit will hit a staggering $130 billion (U.S.) this year. Based on the IMF’s forecast […]