EghtesadOnline: Saudi Arabia’s second-quarter budget gap narrowed to 46.5 billion riyals ($12.4 billion) after income from oil advanced.

EghtesadOnline: Saudi Arabia is struggling with big financial problems and the oil-rich nation now is among the recipients of foreign loans to tackle its large budget deficit standing at 87 billion dollars.

EghtesadOnline: Saudi Arabia canceled bonus payments for state employees and cut ministers’ salaries by 20 percent, its latest steps to rein in a budget deficit that ballooned amid the oil price slump.