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KEY REFORMS, PRIVATISATION PLAN

Saudi Arabia to adjust fuel, utility subsidies over 5 years

RIYADH, December 28, 2015

Saudi Arabia's government is to adjust subsidies for water, electricity and petroleum products over the next five years, the Ministry of Finance said in its 2016 budget document.

Any changes made to such prices would be aimed at achieving efficient use of energy and conserving natural resources, and would also be structured to minimise the negative effects on lower- and middle-income citizens, the document said.

A number of structural economic reforms, including "privatising a range of sectors and economic activities", would also be planned, the ministry added without giving details. - Reuters




Tags: Saudi Arabia | petroleum | Utility |

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