Saudi Arabia has tripled taxes on basic goods, raising them to 15%, and has announced spending cuts of around $26 billion as it grapples with blows from the coronavirus pandemic and low oil prices on its economy.
Saudi citizens will also lose a bonus cost-of-living allowance as part of the cuts.
That's according to the country's finance minister who made the announcement early on Monday.
Despite efforts to diversify the economy, the kingdom still heavily relies on oil for revenue, which plunged in price this year as Brent crude now hovers around $30 a barrel.
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