The decision to replace Saudi Arabia’s finance minister is unlikely to mark a shift in the Kingdom’s approach to dealing with the fallout from lower oil prices. While the outgoing finance minister had become increasingly unpopular due to the austerity implemented under his watch, if anything the appointment of a close-ally of Deputy Crown Price Mohammed bin Salman is likely to tighten the prince’s grip over economic policy and reinforce the government’s stance on fiscal consolidation.
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