RIYADH: Saudi Arabia’s government is to adjust subsidies for water, electricity and petroleum products over the next five years, the Ministry of Finance said in its 2016 budget document, cited by Reuters.
Any changes made to such prices would be aimed at achieving efficient use of energy and conserving natural resources, and would also be structured to minimize the negative effects on lower- and middle-income citizens, the document said.
A number of structural economic reforms, including “privatising a range of sectors and economic activities,” would also be planned, the ministry added without giving details.
KSA to adjust petroleum, utility subsidies over next 5 years
KSA to adjust petroleum, utility subsidies over next 5 years
