Saudi Finance Minister sacked by royal decree

Wednesday, 2 November, 2016 - 07:15

Ibrahim Al-Assaf, Saudi Arabia’s Finance Minister for twenty years has been retired by the decree of the King. This step is a part of a wider government reshuffle prompted by low oil prices that have opened an uncomfortably wide gap in the state budget.

Moreover, the budget of Saudi Arabia is suffering because of its involvement in the Yemeni conflict.

The government has introduced some austerity measures, which causes growing protests in the country. Mass strikes and protests are planning to be held on Friday.