Saudis Focus on ‘Wiser’ Spending as Oil Slide Crimps Revenue

Saudi Arabian officials sharpened their messaging on the government’s fiscal shift at the World Economic Forum in Davos, saying the kingdom is focused now more than ever before on “wiser” spending as it works to fine tune its strategy after years of going “full throttle.”

“Agility keeps progress on the rails,” Saudi Minister of Economy and Planning Faisal Al-Ibrahim said in an interview with Bloomberg Television on the sidelines of the event.