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A
man looks at central Riyadh from the Faisaliah Tower, Saudi Arabia. © Peter
MacDiarmid / Reuters
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The Middle East’s biggest
economy, Saudi Arabia may run out of financial assets within the next five
years if the government maintains its current policies, warns the International
Monetary Fund. Saudi
Arabia is expected to run a budget deficit of 21.6 percent in 2015 and 19.4
percent in 2016, according the IMF’s latest regional economic outlook.
The
country needs to adjust spending, the IMF urged.
The
IMF outlined two key factors shaping the region’s outlook. They are spreading
and deepening regional conflicts and slumping oil prices.
