IMF: Saudi Arabia needs oil at least at $85 to balance budget

The International Monetary Fund (IMF) is out with its latest review report on the Saudi Arabian economy for this year, with the key highlights found below.

The Kingdom is expected to post a budget deficit of 7.9% of GDP this year. 

Notably higher than the 4.6% budget deficit seen in 2018.

In order for the Kingdom to balance its budget, oil must move towards $85 at least.