World Bank, Saudi agree to slow fiscal reforms

Riyadh - Mubasher: The World Bank's country director for the GCC, Nadir Mohammed, said on Thursday that the bank agrees with the Saudi Ministry of Finance about slowing down the pace of fiscal reforms, according to Reuters.

Mohammed added in a press conference that he expects high economic growth in Saudi Arabia by 2018, as many analysts have the same perspective.

Bank of America Merrill Lynch on Thursday noted that the increase in oil prices supports the Saudi government’s efforts in order to lengthen the timetable to support the general financial conditions. 

Oil prices could be satisfying and may lead to uncertainty about the pace of reform in the future, the bank said in its most recent report.

The new Saudi budget for 2018 will be uncovered by the end of December.