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Saudi brings forward state spending deadline in budget clampdown

Saudi Arabia's finance ministry is closing the national accounts one month earlier than usual this year, suggesting it is tightening its control over spending as low oil prices create a record state budget deficit.

The world's top oil exporter is grappling with a budget deficit which economists estimate could total $120 billion or more this year, and the finance ministry has taken other unusual steps recently to clamp down on excess spending.

In its latest step, a document sent by the ministry to...


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