November 16, 2017 / 9:13 AM / in a year

World Bank says it agrees with Saudi slowing fiscal reforms

RIYADH (Reuters) - The World Bank agrees with the decision by Saudi Arabia’s finance ministry to slow the pace of its fiscal reforms, given the need to protect the private sector, a senior World Bank official said on Thursday.

The World Bank’s country director for the Gulf Cooperation Council, Nadir Mohammed, also told a news conference that he expected economic activity in Saudi Arabia to accelerate next year, a view widely held by economists.

Sources briefed by Saudi Arabia’s finance ministry told Reuters early this month that the government planned to push back the target date for eliminating its budget deficit to 2023 from 2020.

Reporting by Katie Paul; Writing by Andrew Torchia

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