Biggest Ever Saudi Overhaul Targets $100 Billion of Revenue
▻http://www.bloomberg.com/news/articles/2016-04-04/biggest-ever-saudi-overhaul-targets-100-billion-of-new-revenue
The biggest economic shake-up since the founding of Saudi Arabia would accelerate subsidy cuts and impose more levies, a plan to spread the burden of lower crude prices among a population more accustomed to government largess.
Outlining his vision in a five-hour interview with Bloomberg News last week, Deputy Crown Prince Mohammed bin Salman said the measures would raise at least an extra $100 billion a year by 2020, more than tripling non-oil income and balancing the budget.
