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Saudi Official Details Some Cost-saving Measures

Saudi Arabia's government is cutting unnecessary expenses and delaying some projects to compensate for low oil prices, though projects that are important for the economy will go ahead, Finance Minister Ibrahim Alassaf said. Alassaf's comments, made in an interview with broadcaster CNBC Arabia during a visit to Washington with King Salman, were the clearest official signal yet that the government was reducing expenditure in some areas as cheap oil slashed its revenues. He said...

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