The Conversation

Black oil, red budgets: how long can Gulf states endure low prices?

Author: The Conversation

Saudi workers have been given a pay bonus by their new king, but unless oil prices rebound the country will find itself eating into its US$750 billion sovereign nest egg.EPA/Ali Haider

In his first royal decree, Saudi Arabia’s newly crowned King Salman announced two-month bonuses for state employees, pensioners, students, and recipients of...

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The Conversation

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