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Biggest Saudi overhaul targets US$100b of revenue

The government will speed up subsidy cuts and impose a value-added tax and other levies

Prince Mohammed says the measures will more than triple non-oil income and balance the budget by 2020.


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...

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