Oil War, Virus Plight Force $13.3 Billion in Saudi Spending Cuts
An Invest Saudi advertising hoarding hangs from the Ameron Hotel ahead of the World Economic Forum in Davos, Switzerland (Photographer: Jason Alden/Bloomberg)

Oil War, Virus Plight Force $13.3 Billion in Saudi Spending Cuts

(Bloomberg) -- Saudi Arabia announced 50 billion riyals ($13.3 billion) in budget spending cuts after the crash in oil prices and the coronavirus outbreak wreaked havoc on its public finances.
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