Saudi Arabia will tax expats and hike gas prices again

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Slammed by lower oil revenues, the kingdom’s budget deficit swelled to 366 billion riyals ($98 billion) in 2015, and 297 billion riyals this year. It was forced to borrow money from international investors for the first time ever, raising $17.5 billion in October. In response, the government has already slashed energy subsidies and cut wages for officials.

Saudi Arabia will tax expats and hike gas prices again

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