Saudi to review power, fuel subsidies

GMT 13:55 2015 Monday ,28 December

Arab Today, arab today Saudi to review power, fuel subsidies

Saudi Arabia
Riyadh - Arab Today

Saudi Arabia said Monday it plans to review the prices of heavily-subsidised power and fuel as part of new measures introduced in the face of low oil prices.

The kingdom's finance ministry also said it is considering plans to raise charges on public services and apply value-added tax (VAT) in cooperation with other Gulf Arab nations.

OPEC kingpin Saudi Arabia announced Monday that it has posted a record $98 billion budget deficit in 2015 and a projected $87 billion shortfall for next year.

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بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
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