IMF Advises Saudi to Review Public Sector Wage Bill

September 9, 2015 6:48 PM

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The International Monetary Fund says Saudi Arabia should adjust its spending to help offset the effects of lower oil prices by reviewing its public sector wage bill and reducing energy subsidies.

Salaries, wages and allowances contribute to about 50 percent of total budgeted expenditures in Saudi Arabia. Direct and indirect energy subsidies are estimated to cost at least 115 billion Saudi riyals ($30.7 billion) annually.

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