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Saudi Arabia Announces Fiscal Deficit of $135 Billion

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Yesterday, Saudi Arabia announced that 2015 would produce a budget deficit amounting to $135 billion (367 billion riyals). A royal decree, effective on Tuesday, will increase petrol prices by 50%. This will only bring gasoline to 33 cents (0.90 riyals) a liter where one liter equals 0.264172 of a gallon.