Saudi Arabia urged to speed up economic reform

SAUDI ARABIA - The International Monetary Fund has called for the acceleration of economic reforms in Saudi Arabia, warning that inaction would swell an already large public debt, put pressure on public finances and discourage investment.

In a staff appraisal after consultations with the Saudi authorities, the IMF recommends that Saudi Arabia speed up the implementation of a proposed income tax on expatriate workers, who make up 48 per cent of total manpower, but also extend the tax to Saudis.

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