The austerity measures announced by the Saudi government today reinforce our view that it will rely on fiscal consolidation rather than a devaluation to make the adjustment to cheap oil. The measures mean that households may end up bearing a larger burden of austerity than they have done in the past, and the economic recovery will be slow going once coronavirus restrictions are lifted.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.