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As Oil Prices Plummet, Saudi Arabia Opts for Austerity

May 11, 2020 | 19:39 GMT

In the face of the COVID-19 crisis and subsequent global recession, most countries are launching significant fiscal stimulus programs to boost domestic economic activity. Governments dependent on oil and gas revenue, however, are being forced to do the opposite as the likely long-term collapse of energy prices necessitates sharp spending...

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