RIYADH: Saudi Arabia’s austerity drive to counter the impact of low oil prices came at a cost. Domestic demand has been hurt by lower spending on infrastructure projects and cuts in public servants’ bonuses, leaving economic growth dependent on the oil sector. The expected rebound in oil prices in 2017 may allow the government to increase spending, which might fuel a recovery in the non-oil economy.
Pakistan to receive 50,000 tons of fertilizer imports From Morocco
KARACHI: Pakistan is set to receive a major shipment of phosphate-based fertilizers from Morocco as part of efforts to ensure...
