Saudis Scramble for Revenue as They Shift Their Economy From Oil

Riyadh targets asset sales, a cut in energy subsidies, a value-added tax and ‘other revenues’ as their new sovereign wealth fund gets going.

comments Print
The cost of insuring Saudi Arabia’s debt against default has risen since the kingdom announced a plan to wean itself off volatile oil exports, showing that some investors fear it won’t be able to raise enough...