Oil Recovery to Determine Saudi Fiscal Trajectory, IMF Says

Saudi Arabia’s fiscal and current accounts would benefit most from a rebound in oil prices and production, according to the International Monetary Fund, despite the government’s progress in diversifying the $1.2 trillion economy.

“An increase in oil price or a recovery in oil production has an immediate impact,” Jihad Azour, the fund’s director for the Middle East, North Africa and Central Asia said in an interview with Bloomberg TV.