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.
Govt considers duty increase on key imports to protect reserves, farmers
KARACHI: Pakistan is evaluating the introduction of heightened customs duties on the importation of used cars with engines up to...