By Maged Al-Shabib
Riyadh-Mubasher: Saudi Arabia’s stock market tumbled 2.6% in Tuesday’s early trading on the Cabinet’s decision to raise energy prices.
The kingdom announced on Monday a budget deficit of nearly SAR 367 billion in 2015 as revenues amounted to SAR 608 billion and spending reached SAR 975 billion.
The petrochemical sector was hit most by the decision, plunging 7%. The giant petrochemical producer SABIC dropped 8%.
Translated by Abdul Maguid Aboshahla
