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Senate’s Veto Override And Cheap Oil Put Pinch On Saudi Economy

On Monday the Saudi government announced that it would cut ministerial salaries by 20% and also cut benefits for public sector employees. Coming on the heels of last month's move to raise fees for government services and the poorly-received move last December to raise tariffs on water (obviously a scarce commodity in the Kingdom) it is clear the Saudi government is feeling the financial pinch from lower oil prices.
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